Evergrande New Energy Vehicle surges on HK$26bn share sale

EV_AdobeStock_575x375_06Oct20
By Jonathan Breen
25 Jan 2021

China Evergrande New Energy Vehicle Group's share price soared over 50% on Monday after the firm sold HK$26bn ($3.35bn) of new stock to a handful of Chinese high net worth investors.

The company issued 952.38m primary shares, equal to 9.75% of its enlarged share capital, to six investors at HK$27.30 each. The price represents a 9% discount to the last close at HK$29.90 and an 8% discount to the average close of HK$29.67 for the five days before the ...

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