2023-08-14 15:12:02
Li Xu2023-08-14 23:12:02
DoNews news on August 14, Evergrande Automobile (0708.HK) announced on the evening of the 14th that it has obtained a strategic investment of approximately US$500 million (approximately RMB 3.63 billion) from Newton Group (Nadaq: NWTN) headquartered in Dubai, UAE. Holding approximately 27.50% of the issued shares, the total consideration is HK$3889723903, implying a subscription price of HK$0.6297 per share.
It is understood that Newton Group and Evergrande New Energy Automobile signed a transitional financial support agreement. Under the condition of meeting the prerequisites in the agreement, the fund provider should provide the fund recipient with a total amount of three equal amounts. RMB 600 million interest-free and guaranteed transitional funds will be used for the R&D, production and sales of Evergrande Automobile.
On August 14, the public float of Evergrande Auto was 41.39%. After the debt-to-equity swap is completed, the company’s public float will drop to approximately 31.08%. After the closing, the subscriber will become the core connected person of the company, holding approximately 27.50% of the total issued shares. Immediately after the closing, the company’s public float was approximately 22.53%.
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