Ho Xing International Automobile Co., Ltd. announced that it expects to receive TWD 500 million in funding from Hotai Motor Co.,Ltd.
August 11, 2020
Share
Ho Xing International Automobile Co., Ltd. announced that it will issue 50,000,000 shares at a price of TWD 10 per share for gross proceeds of TWD 500,000,000 on August 12, 2020. The transaction will include participation from Hotai Motor Co.,Ltd. (TSEC:2207). The transaction was approved by the board of directors Hotai Motor Co.,Ltd.
Hotai Motor Co Ltd is a Taiwan-based company principally engaged in the distribution of motor vehicles and relevant parts. The Company primarily provides passenger cars and business vehicles, with brands named LEXUS, TOYOTA and others, as well as large-sized vehicles, including trucks and passenger cars, with brands named HINO. In addition, it is involved in the provision of air conditioners for vehicles, vehicle leasing services and installment payment services, as well as parts and components for vehicles. The Company is also engaged in insurance business. The Company operates its businesses primarily in domestic market.
HOTAI MOTOR CO.,LTD. 
