Evergrande’s EV unit terminates plans to issue RMB shares

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The corporate brand is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Music

HONG KONG, Sept 26 (Reuters) – China Evergrande’s electrical automotive unit stated on Sunday it won’t proceed with plans to challenge RMB shares on the Science and Expertise Innovation Board of the Shanghai inventory alternate.

In a press release to the Hong Kong inventory alternate, China Evergrande New Power Car Group stated that after cautious consideration the corporate and Haitong Securities had agreed to terminate the settlement to challenge RMB shares.

On Friday, China Evergrande New Power Car Group warned it confronted an unsure future until it bought a swift injection of money, the clearest signal but that the property developer’s liquidity disaster is worsening in different elements of its enterprise.

Reporting By Anne Marie Roantree; Enhancing by Kirsten Donovan


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