Hotai Connected Co., Ltd. announced that it expects to receive TWD 300 million in funding from Hotai Motor Co.,Ltd.
January 20, 2021
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Hotai Connected Co., Ltd. announced a private placement of 30,000,000 shares at an issue price of NTD 10 per share for gross proceeds of NTD 300,000,000 on January 21, 2021. The transaction will include participation from returning investor Hotai Motor Co.,Ltd. (TSEC:2207), which will retain its 100% stake in the company. The transaction has been approved by the board of directors of the investor and ratified by the supervisors or approved by the audit committee. The transaction is expected to close on January 25, 2021.
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. 
