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Evergrande’s $500m EV Share Sale Deal With Dubai Firm Lapses – Asia Financial

Evergrande’s $500m EV Share Sale Deal With Dubai Firm Lapses – Asia Financial

A $500 million share sale deal between China Evergrande’s electric vehicle unit and a Dubai-based firm has lapsed, according to a Hong Kong stock exchange filing on Monday.In August, China Evergrande New Energy Vehicle Group (NEV) had said it had agreed to issue 6.18 billion new shares to Dubai-based mobility company NWTN for a total HK$3.89 billion ($498.2 million).But in a filing on Monday, the firm said that neither party had agreed on the extension of the long stop date,… 

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