Economic news
Evergrande NEV shares set to open sharply higher after share sale to NWTN
2023.08.15 00:07
© Reuters. FILE PHOTO: A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. REUTERS/Yilei Sun
HONG KONG (Reuters) – Shares of China Evergrande New Energy Vehicle Group(NEV) are set to open 14.7% higher on Tuesday, after the company said it has agreed to sell new shares to U.S.-listed NWTN for $500 million.
After completion of the deal, NWTN, a mobility technology company, will hold about a 27.5% stake in NEV.
($1 = 7.8205 Hong Kong dollars)
