Baic Motor (HKG:1958) agreed to subscribe to shares of Beijing Automotive Group's subsidiary, Beijing Electric Vehicle's at 2.3815 yuan per share or 2 billion yuan in total, a Monday filing with the Hong Kong Exchange said.
The subscription shares represent between 5.30% and 7.22% of BJEV's enlarged total number of issued shares.
The company's shares were down over 2% in recent trade.
Price (HKD): $1.82, Change: $-0.040, Percent Change: -2.15%
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