Brief: China Harmony New Energy Auto Holding updates on FMC's latest round of financing

China Harmony Auto Holding

07/08/2017 01:03

Aug 7 (Reuters) - China Harmony New Energy Auto Holding Ltd 
 3836.HK : 
    * FMC Cayman had entered into a capital increase agreement 
and a supplemental agreement with an investment fund 
    * Investment fund has agreed to invest US$200 million in FMC 
to subscribe for FMC's equity interests 
    * Parties to investment agreements have confirmed that 
pre-money valuation of FMC is US$550 million 
    * Estimates FMC's financing activities in 2017 up to August 
7 would bring no less than RMB600 million of investment gain to 
group 
    * FMC plans to launch show cars for volume production in Q4 
of 2017, put into production in 2019 
 
Source text for Eikon:  ID:nHKSb4tXyX  
Further company coverage:  3836.HK  
 
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