Tokio Marine Newa Insurance Co., Ltd. announced a private placement of up to 219,701,467 common shares at an issue price of TWD 10 per share for gross proceeds of TWD 2,197,014,670 on December 22, 2022. The transaction included participation from returning investors Yulon Motor Company Ltd. for 98,701,467 common shares for proceeds of TWD 987,014,670 to acquire 17.77% stake and China Motor Corporation for 121,000,000 shares for TWD 1,210,000,000 to acquire 21.19% stake. The transaction has been approved by board of directors of investors.