HONG KONG (Reuters) – Shares of China Evergrande New Energy Vehicle Group Ltd are set to open up 4.8% to HK$3.7, after the company raised around $347 million in a share placement.
The EV unit of embattled property developer China Evergrande’s issued about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd.
(Reportong by Clare Jim; Editing by Tom Hogue)
