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Reading: China Evergrande’s EV Business to Raise $347 Million From Share Sales
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The Wall Street Publication > Blog > Markets > China Evergrande’s EV Business to Raise $347 Million From Share Sales
Markets

China Evergrande’s EV Business to Raise $347 Million From Share Sales

Editorial Board Published November 20, 2021
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China Evergrande’s EV Business to Raise 7 Million From Share Sales
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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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