Brief: FDG Electric Vehicles enters into a share subscription agreement

FDG Electric Vehicles

16/12/2015 04:26

Dec 15 (Reuters) - FDG Electric Vehicles Ltd  0729.HK : 
 * Entered into an agreement with the subscriber as subscriber for the subscription of 1 billion new shares at HK$0.465 per share. 
 * The subscriber is a wholly-owned subsidiary of citic limited 
 * Net proceeds from the issuance of new shares under the subscription are  
estimated to be approximately HK$463 million 
 * Net proceeds from new shares will be used for remaining capital expenditure required for the scale production of electric vehicles in Hangzhou manufacturing plant 
 
 * Source text for Eikon  ID:nHKS9csKwW  
 
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