Evergrande NEV shares set to open sharply higher after share sale to NWTN

Robo.ai

15/08/2023 02:20

HONG 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 Anantharaman)
 ((clare.jim@thomsonreuters.com;))