China Evergrande's EV unit plans HK$500m share sale for vehicles production

[HONG KONG] China Evergrande's electric vehicle unit said on Wednesday it plans to sell HK$500 million (S$86.5 million) worth of shares to fund production of new energy cars, including those made by its Hengchi brand.

China Evergrande New Energy Vehicle Group plans sale of 174.83 million new shares, or 1.76 per cent of the enlarged share capital, at HK$2.86 per share in a top-up placement, it said in a filing to the Hong Kong bourse on Wednesday.

REUTERS