Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED

(708)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/25
3.75 HKD   -2.34%
01/25Evergrande to Hold First Investor Call Since Default
MT
01/25Debt-laden China Evergrande to hold call with investors on Wednesday - sources
RE
01/24Shanghai Logs $145 Billion Trade Deficit in 2021
MT
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China Evergrande EV unit plans share sale to fund vehicle production

11/09/2021 | 08:15pm EST

HONG KONG, Nov 10 (Reuters) - China Evergrande's electric vehicle unit said on Wednesday it plans to sell HK$500 million ($64.2 million) worth of shares to fund production of new-energy cars, including those made by its Hengchi brand.

China Evergrande New Energy Vehicle Group Ltd plans to sell 174.83 million new shares, or 1.76% of the enlarged share capital, in a top-up placement, it said in a filing to the Hong Kong bourse on Wednesday.

The new shares will be sold at HK$2.86 apiece, representing a 19.89% discount to Tuesday's close of HK$3.57 each, to its controlling shareholder Evergrande Health Industry Holdings Ltd.

The controlling shareholder will buy the new shares on completion of the sale of the same amount of existing shares at the same price to third-party investors.

China Evergrande New Energy Vehicle said the move was aimed at paving the way for Hengchi new-energy vehicles to start production.

The electric-vehicles unit is seeking Chinese regulatory approval to sell its inaugural Hengchi 5 sport-utility vehicles, as the embattled company vows to start making cars early next year.

The directors had considered various options of raising funds, it said.

China Evergrande, the world's most indebted developer, has been stumbling from debt-repayment deadline to deadline as it grapples with more than $300 billion in liabilities.

($1 = 7.7840 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Sam Holmes and Stephen Coates)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -6.45% 1.74 End-of-day quote.9.43%
CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED -2.34% 3.75 End-of-day quote.6.53%
All news about CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
01/25Evergrande to Hold First Investor Call Since Default
MT
01/25Debt-laden China Evergrande to hold call with investors on Wednesday - sources
RE
01/24Shanghai Logs $145 Billion Trade Deficit in 2021
MT
01/24Evergrande seeks more time from offshore creditors for debt restructuring plan
RE
01/23China property sector could see "significant" policy easing -BNP Paribas
RE
01/23China Evergrande appoints EV unit chairman as executive director
RE
01/20Evergrande creditors raise threat of action over default
RE
01/20Evergrande bondholder advisor says property firm has made contact
RE
01/13China Evergrande shares climb after winning bond payment delay
RE
01/13Evergrande NEV’s Inaugural Car Rolls Off Production Line; Shares Tank 14%
MT
More news
Analyst Recommendations on CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
More recommendations
Financials
Sales 2020 15 487 M 2 449 M 2 449 M
Net income 2020 -7 394 M -1 169 M -1 169 M
Net Debt 2020 62 534 M 9 891 M 9 891 M
P/E ratio 2020 -35,5x
Yield 2020 -
Capitalization 33 042 M 5 223 M 5 226 M
EV / Sales 2019 20,0x
EV / Sales 2020 18,5x
Nbr of Employees 14 493
Free-Float 35,6%
Chart CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
Duration : Period :
China Evergrande New Energy Vehicle Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Managers and Directors
Da Rong Pan Chief Financial Officer
Shawn Siu Chairman
Shing Yim Chau Independent Non-Executive Director
Jian Wen Guo Independent Non-Executive Director
Wu Xie Independent Non-Executive Director