gamecoinnft| Evergrande Motors resumed trading and opened a high price of nearly 95%, and 29% of its shares will be acquired

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Hong Kong stocks Evergrande Motor resumed trading, rising 94% at the openinggamecoinnft.74%。After the above transaction is completed, China Evergrande will no longer hold shares in Evergrande Motors.

On May 27, Hong Kong stocks Evergrande Automobile resumed trading, rising 94.74% at HK$0.740 at the opening.

On the evening of May 26, Evergrande Automobile issued an announcement stating that the liquidator of China Evergrande, Evergrande Health Industry Group Co., Ltd., Acelin Global Limited and other parties had entered into a contract with a third-party buyer.gamecoinnftThe terms and conditions were approved and the company plans to sell its shares in Evergrande Motors. According to the above terms and conditions, the buyer and seller will further enter into a final purchase and sales agreement on the sale. According to reports, China Evergrande holds a total of approximately 6.347 billion shares in Evergrande Motors, accounting for approximately 58.5% of the latter's total issued shares, and will be placed on the shelves.

The announcement stated that after the conclusion of the sale and purchase agreement and subject to its terms and conditions, it is proposed that 3.14 billion potential shares for sale will be acquired in real time, that is, approximately 29% of Evergrande Motor's issued shares; another approximately 3.203 billion potential shares for sale, that is, the remaining approximately 29.5%, will become an option for the buyer within a certain period after the date of the sale and purchase agreement.

According to Evergrande Motor's 2023 financial report, China Evergrande holds a total of 6,347,948,000 shares of Evergrande Motor, with a shareholding ratio of approximately 58.54%. This also means that after the above transaction is completed, China Evergrande will no longer hold shares in Evergrande Motors.

As early as January 29 this year, the Hong Kong court issued a liquidation order against China Evergrande. On the same day, China Evergrande made an announcement and disclosed that Edward Simon Middleton and Wong Yongshi of Amart Consulting Co., Ltd. were appointed by the High Court as the joint and individual liquidators of China Evergrande.

Evergrande Automobile also emphasized that the above-mentioned potential transactions such as share transfers and potential credit credits are subject to further due diligence, including but not limited to financial certificates of potential buyers and due diligence on Evergrande Automobile's assets, liabilities, business, financial and legal matters. At the same time, Evergrande Motor's shares will resume trading starting from 9 a.m. on May 27.

Evergrande Automobile also made it clear that the group is currently in a serious shortage of funds. The Tianjin factory has no longer produced since the beginning of this year, and production has not resumed as of the announcement date.