Nio Inc Acquires Les Encheres Bidou Inc. and Issues New Shares as Consideration for Transaction

Monday, 4 Mar 2013

Nio Inc announced that the Company is expanding its business in Internet auctions by acquiring in Canada. is an internet auction platform similar to Nio’s existing and The acquisition will give Nio access to Bidou’s user base of around 170,000 users, mainly in the Canadian market. Nio will transfer to its own internet auction platform, and move Bidou’s operations to Manila, expecting reductions in overall costs going forward. No employees, lease commitments or other liabilities will be part of the transaction. is owned by Les Encheres Bidou Inc., a company incorporated in Quebec, Canada. Upon closing of the transaction, Nio will issue 1 million new Nio shares as consideration for all shares in Les Encheres Bidou Inc. The number of outstanding shares in Nio after the transaction will be 150,924,309. The agreement is subject to due diligence. The acquisition is expected to be completed in March 2013.