China Evergrande New Energy Vehicle to raise $516m from Tencent, Sequoia, others

Tencent Holding Ltd

China Evergrande New Energy Vehicle Group Ltd said on Tuesday investors including Tencent Holdings Ltd and Sequoia Capital will buy HK$4 billion ($516.12 million) worth of company shares in a share sale.

The electric vehicle unit of property developer China Evergrande said its controlling shareholder plans to sell 176.58 million existing shares, or about 2% of the share capital, to not less than six third-party investors.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter