A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021.
REUTERS/Yilei SunHONG KONG, Aug 15 (Reuters) - Shares of China Evergrande New Energy Vehicle Group (0708.HK)(NEV) are set to open 14.7% higher on Tuesday, after the company said it has agreed to sell new shares to U.S.-listed NWTN (NWTN.O) for $500 million.
After completion of the deal, NWTN, a mobility technology company, will hold about a 27.5% stake in NEV.($1 = 7.8205 Hong Kong dollars)Reporting by Clare Jim; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons:
Clare Jim, Muralikumar
Organizations:
Energy Vehicle Group, REUTERS, HK, U.S, Thomson
Locations:
China, Tianjin, HONG KONG, NEV, Hong Kong