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NIO-SW: CN Investors to Subscribe for 27.3% Stake in Subsidiary Shenji for RMB2.26B
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NIO-SW (09866.HK) and GeniTech Co., Ltd. (“Shenji”), a subsidiary of the Company, entered into definitive agreements with certain investors in China, pursuant to which the investors will invest an aggregate of RMB2.257 billion in cash to subscribe for Shenji's newly issued shares, as announced by NIO-SW. Shenji is primarily responsible for NIO-SW's intelligent-driving chip related business. The investment transaction is subject to customary closing conditions. Upon completion of the investment transaction, a subsidiary of NIO-SW will continue to hold a controlling equity interest of 62.7% in Shenji and NIO-SW will continue to consolidate its financial results, NIO-SW added. The Shenji investors will collectively hold 27.3% of Shenji's equity interest. AAStocks Financial News Website: www.aastocks.com |
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