Evergrande Auto secures strategic investment of RMB 26 billion.

On January 24, Evergrande Auto announced that it had signed subscription agreements with six investors, issuing a total of 952,383,000 new shares at HKD 27.30 per share, representing 9.75% of the enlarged share capital of the company, and raising a total of HKD 26 billion.

Evergrande stated that the proceeds from the subscription will be used for the research and development, production investment, debt repayment, and general corporate purposes of the new energy vehicle industry.

(Source: Sina Finance)

As of noon on January 25, Evergrande Auto’s Hong Kong stock was trading at HKD 45.85 per share, and its total market value exceeded HKD 400 billion.

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Source: Evergrande Auto

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.