Evergrande’s EV unit terminates plans to issue RMB shares

Stock Markets36 minutes ago (Sep 26, 2021 08:20AM ET)

(C) Reuters. FILE PHOTO: The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song

HONG KONG (Reuters) – China Evergrande’s electric car unit said on Sunday it will not proceed with plans to issue RMB shares on the Science and Technology Innovation Board of the Shanghai stock exchange.

In a statement to the Hong Kong stock exchange, China Evergrande New Energy Vehicle Group said that after careful consideration the company and Haitong Securities had agreed to terminate the agreement to issue RMB shares.

On Friday, China Evergrande New Energy Vehicle Group warned it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer’s liquidity crisis is worsening in other parts of its business.

Evergrande’s EV unit terminates plans to issue RMB shares

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Ports giant DP World expects container volume growth to moderate in Q4

Sign In/Free Sign Up 0 Stock Markets8 minutes ago (Oct...

Subscribe to our stories

Join the exclusive subscription today and get premium articles for free

Same Category

SK Hynix more upbeat than rivals on rising memory-chip demand

Economy23 minutes ago (Oct 26, 2021 01:30AM ET) (C) Reuters....

Rise in human bird flu cases in China shows risk of fast-changing variants – health experts

Commodities28 minutes ago (Oct 26, 2021 01:25AM ET) 2/2 (C) Reuters....