News summary
Evergrande Automobile's announcement revealed that potential sellers plan to sell 58% of their companytmntpinball.5% shares, of which 29tmntpinball.0% of the shares will be acquired immediately and 29.5% will be used as an optiontmntpinballof. At the same time, potential buyers will provide credit to support Evergrande Motor's electric vehicle business. Trading in the company's shares will resume on May 27.
Newsletter text
[Evergrande Automobile Announcement: Potential sellers and third-party buyers may reach an agreement on share transactions]
On May 26, Evergrande Automobile announced that it had learned that a potential seller had signed a contract with an independent third-party buyer.tmntpinballAfter completing the terms and conditions, a share purchase and sale agreement may be reached. Potential sellers include China Evergrande Group, Evergrande Health Industry Group and Acelin Global Limited.
As of the announcement date, potential sellers held a total of 6.348 billion shares, accounting for approximately 58.5% of the company's total shares. In the proposed transaction, 3.145 billion shares will be acquired immediately, while 3.203 billion shares will be subject to options for potential buyers.
In addition, Evergrande revealed that potential buyers will provide credit lines to support the development of its electric vehicle business. Currently, Evergrande Motors faces a shortage of funds, and its Tianjin factory has stopped production since the beginning of the year.
Evergrande Automobile plans to apply to the Stock Exchange to resume share trading starting from 9 a.m. on May 27.