Location:

differencebetweenpennbattle2andbattle3| Equity change in Evergrande Automobile: Potential buyers may acquire 58.5% of the shares to help the development of the electric vehicle business amid capital shortages

editor 2024-05-27 24 0

News summary

Evergrande Automobile (00708differencebetweenpennbattle2andbattle3.HK) Disclosure of terms and conditions between potential sellers and third-party buyersdifferencebetweenpennbattle2andbattle3, involving 58differencebetweenpennbattle2andbattle3.5% of the shares may be transferred, and the Group's electric vehicle business development funding and credit arrangements.

differencebetweenpennbattle2andbattle3| Equity change in Evergrande Automobile: Potential buyers may acquire 58.5% of the shares to help the development of the electric vehicle business amid capital shortages

Newsletter text

[Evergrande Automobile (00708.HK) may experience major equity changes, and potential sellers sign preliminary terms and conditions with third-party buyers] Investors should pay close attention. Evergrande Automobile reached preliminary terms with third-party buyers on May 16 regarding the potential sale of the company's shares. This move may involve 58.5% of the companydifferencebetweenpennbattle2andbattle3shares. According to the announcement, potential sellers such as Evergrande Health Industry Group Co., Ltd. and Acelin Global Limited currently hold approximately 6.348 billion shares of Evergrande Automobile. If the transaction is concluded, it may first involve 3.145 billion shares, accounting for 29.0% of the total share capital, and will subsequently include 3.203 billion shares, which can become an optional purchase option for the buyer. Evergrande Automobile is currently facing a tight capital chain problem, and its Tianjin factory has stopped production since the beginning of the year. To address the funding shortage, the announcement mentioned that potential buyers would provide credit lines to support the continued operation and development of their electric vehicle business. If this equity transaction is successfully signed, it may trigger a mandatory general offer. Evergrande Motor plans to resume trading in its shares on the Stock Exchange on May 27. Investors should carefully examine the impact of this incident on the market and pay close attention to subsequent developments.