(Shanghai/Beijing Comprehensive News) Evergrande Automobile, which has fallen into the dilemma of non -debt, will receive a cash injection of Dubai Automobile Maken Newton Group's $ 500 million (S $ 679 million).Evergrande Motors said that the investment is the only feasible fundraising plan at the current company to meet its urgent funding needs.
Comprehensive Securities Times and China Energy Report, Evergrande Automobile issued an announcement on Monday (August 14) that it has obtained a strategic investment of 500 million US dollars in Newton Group.Singapore) The transition funds have been reached one after another five working days after the announcement.
According to the announcement, Evergrande Automobile entered into a share subscription agreement with the shares of Fangnetton Group on the same day.The subscription price of the subscription shares is HK $ 0.63 (S $ 0.1).
Evergrande Automobile said that all strategic investment funds will be used for Evergrande Automobile Tianjin plant, ensuring that the normal production of Hengchi 5 under Evergrande and the successive mass production of Hengchi 6 and 7.
In addition, Newton Group will also assist Evergrande Automobile to develop overseas markets to achieve 30,000 to 50,000 Hengchi Motors exported to the Middle East market each year.
Affected by the news, Evergrande's stock price closed up 14%on Monday. On Tuesday, the stock price once increased by 46%, and the closing stock price increased by 1.76%; the stock price fell on Wednesday and closed at 16.18%.
The change in stock prices directly reflects investors' doubts.The annual report of Newton's nearly three years shows that the company has no revenue in 2020, 2021 and 2022, and the net profit of the mother -in -law of the same period has continued to lose money.People in the industry have questioned how to support them from Newton's own funds to invest in this huge amount of funds to Evergrande Motor.
