Evergrande’s EV unit terminates plans to issue RMB shares By Reuters

© Reuters. FILE PHOTO: The corporate emblem is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Track

HONG KONG (Reuters) – China Evergrande’s electrical automotive unit stated on Sunday it won’t proceed with plans to difficulty shares on the Science and Expertise Innovation Board of the Shanghai inventory trade.

In a press release to the Hong Kong inventory trade, China Evergrande New Power Car Group stated that after cautious consideration the corporate and Haitong Securities had agreed to terminate the settlement to difficulty RMB shares.

On Friday, China Evergrande New Power Car Group warned it confronted an unsure future except it acquired a swift injection of money, the clearest signal but that the property developer’s liquidity disaster is worsening in different components of its enterprise.

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