NIO Hong Kong shares touch 3-week low after $1 bln equity offering

Hong Kong shares of NIO Inc 9866.HK fall as much as 4.2% to HK$44.76, their lowest level since August 22

Stock on course for the biggest one-day pct drop since September 4

U.S.-listed stock NIO.N dropped 8.9% on Wednesday

The Chinese smart electric vehicle maker announces the pricing of its $1 billion equity offering relating to a total of

181.82 million Class A ordinary shares

NIO says the net proceeds will be used for investments in research and development, expand battery swapping and charging networks, strengthen balance sheets, and general corporate purposes

Nomura, with a "Neutral" rating, says it is NIO's second share placement in six months, and the brokerage estimates a 7.5%-8.6% dilutive impact to the existing shareholders of NIO

Hang Seng Automobile Index .HSAMI eases 1.1%, Hang Seng Tech Index .HSTECH falls 1.2%, Hang Seng Index .HSI slips 0.8%

YTD, Hong Kong-listed stock up 34.6%, U.S.-listed shares up 31.2%