On March 12, JAC Group announced on the Shanghai Stock Exchange (SSE) its plan for a CNY 6.5 billion capital increase in Volkswagen (Anhui) Automotive Co., Ltd. (VW Anhui) with VW China in equal proportion to their shareholding ratios.
JAC Group and VW China will contribute CNY 1.625 billion and CNY 4.875 billion, respectively, in cash. Upon completion of the related transaction, the two parties’ respective shareholding ratios will stay unchanged at 25% and 75%.
According to JAC Group, this capital increase will be conducive to further deepening its strategic partnership with VW China and enhancing VW Anhui’s comprehensive strength and anti-risk capability.
From a JAC Group SSE announcement