Celestica Inc
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Value
Based in Canada
Company profile

Celestica Inc. is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services. Its products and services serve a range of applications, including servers; storage systems; optical equipment; aerospace and defense electronics; healthcare products and applications; semiconductor equipment, and a range of industrial and alternative energy products, including solar panels and inverters. It designs, manufactures and tests solar panels for the residential, commercial and utility scale markets. It uses technologies in the assembly and testing of its products.

Closing Price
Day's Change
-0.16 (-1.85%)
B/A Size
Day's High
Day's Low
(Above Average)

10-day average volume:

Nio's stock drops as upsized share offering prices at a discount of more than 7%

7:11 am ET December 14, 2020 (MarketWatch)

Tomi Kilgore

Nio raises $2.65 billion as offering increases to 68 million ADS from 60 million ADS

Shares of Nio Inc. took another dive Monday, after the China-based electric vehicle maker's share offering, which was upsized by 13%, priced at a discount.

The company raised $2.65 billion as its offering of 68 million American depositary shares (ADS) priced at $39.00 per ADS, which is 7.1% below Friday's closing price of $41.98.

When Nio originally announced the share offering after last Thursday's closing bell, it said it was offering at least 60 million ADS.

Don't miss: Nio joins Tesla and other rivals in rush to offer more shares in electric-vehicle companies (https://www.marketwatch.com/story/nio-joins-tesla-and-other-rivals-in-rush-to-offer-more-shares-in-electric-vehicle-companies-11607641044).

Nio's stock (NIO) slumped 5.6% in premarket trading, after shedding 7.2% on Friday in the wake of the share offering.

The stock's selloff bucked the strength in rival EV makers and the broader stock market. Shares of Tesla Inc. (TSLA) gained 1.5%, XPeng Inc. (XPEV) climbed 2.4% and Li Auto Inc. (LI) advanced 1.4%, while futures for the S&P 500 index climbed 0.8%.

Nio said it has also granted the underwriters of the offering options to buy up to an additional 10.2 million ADS. That means the company could raise up to roughly another $400 million if the options are exercised.

The underwriters were Morgan Stanley and China International Capital Corp. Hong Kong Ltd.

Nio's plan to sell shares comes after the stock rocketed 124.1% in three months through Friday, while the iShares MSCI China exchange-traded fund (MCHI) rose 7.9% and the S&P 500 gained 8.3%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

December 14, 2020 07:11 ET (12:11 GMT)

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