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Evergrande Vehicle to raise HKD 500 million for NEV development and manufacturing
On November 9, China Evergrande New Energy Vehicle Group Limited (Evergrande Vehicle) announced that it has signed a placing and subscription agreement with a placement agent, agreeing to sell about 175 million new shares at the price of HKD 2.86 apiece. The total proceeds are expected to be around HKD 500 million.
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