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Shares of China Evergrande’s EV unit to open higher after $347 million share placement -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A view of China Evergrande New Energy Vehicle Group’s electric vehicle factory in Tianjin (China), October 20, 2021. REUTERS/Yilei Sun

HONG KONG (Reuters), Shares of China Evergrande New Energy Vehicle Group Ltd have been opened up to 4.8%, to HK$3.7. The company had raised about $347 Million in a share offering.

Through a placement of HK$3 per share, the EV unit for China Evergrande’s was able to issue about 900,000,000 shares. This top-up placement was made to Evergrande Health Industry Holdings Ltd.

(Reportong by Clare Jim. Editing by Tom Hogue.

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