Financial Insights

China Evergrande EV unit to raise $347 million from share sale to fund production

China Evergrande’s electric vehicle division is raising about HK$2.7 billion ($347 million) from a share sale to fund production of new-energy cars, it said on Friday

China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it previous week.

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