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China Evergrande’s Electric-Vehicle Business to Raise $347 Million From Share Sales

November 22, 2021
Source: reportdoor.com reportdoor.com
News Snapshot:
China Evergrande New Energy Vehicle Group Ltd. is planning to raise around $347 million from a share placement in an effort to strengthen its financial position and fund production of electric vehicles. The Hong Kong-listed company, also known as Evergrande Auto, is selling 900 million shares for three Hong Kong dollars apiece, equivalent to US$0.39 a share. That represents a nearly 15% discount to the stock’s last traded price, the company said late Friday.
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Tags: auto | Business | China | discount | energy | Evergrande | finance | financial | fund | Hong Kong | KONG | new energy | production | sales | share | shares | Three | vehicle

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