China’s electric scooter startup Niu said to plan $300 million IPO

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Niu, the Chinese startup that sells smart electric scooters with presence in 27 nations, is seeking public offering of stocks that could raise about $300 million.

Established in 2014, Niu is working with guides on the potential IPO. Niu is planning about posting partakes in the U.S. this year. Arrangements for the deal are at a beginning stage, and subtle elements could change.

Niu is planning on raising assets as it tries to expand its battery-controlled bikes business beyond its Chinese home market.

Aims to double sales in Europe by 2020

It launched two new bikes a month ago, for riders in Europe, where scooter manufacturers like Vespa and Honda are more typical on urban streets. Niu sold 4,600 bikes in Europe a year ago and aiming to double its business by 2020.

Chinese startups keep on seeking stock contributions in the U.S. indeed, even as the Hong Kong stock exchange has begun pulling in a wider range of tech and healthcare services firms by relaxing its listing rules in April. Other Chinese companies like NIO and Pinduoduo Inc. also filed earlier this year for a planned New York IPO. Pinduoduo Inc., a Chinese online business firm is looking for as much as $1.6 billion in U.S. initial public offering this week.

Niu scooters intended for the Europe includes the M+ model, which has a top speed of 45 kilometers per hour and will be available for 2,299 euros ($2,677) on its official site. With a top speed of 70 kilometers per hour, the best segment in line, N-GT scooter costs 3,999 euros.

These smart bikes have internet connectivity built-in, which enables users to check continuous battery levels and area by means of a smartphone application. Both the N-GT and the M+ models can be fully charged in three and a half hours and can travel more than 100 kilometers before recharging.



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