Dida's Subsidiary to Subscribe for Uxin's Shares, Extends Loan to Youxin Anhui

MT Newswires Live09-13

Personal care company Dida's (HKG:2559) subsidiary Pintu Beijing agreed to subscribe for 1,543,845,204 Class A ordinary shares of Uxin at $0.004858 per ordinary share or $1.4575 per American depository share.

The subscribed shares will be provided to Pintu in the form of 5,146,151 American Depository shares with a total price of $7.5 million, a Thursday filing with the Hong Kong Exchange said.

Pintu Beijing also agreed to provide a loan of $7.5 million to Youxin Anhui for a term of 18 months from the drawdown date. The loan has an interest rate of 5.35% per annum on the outstanding principal amount within a year from the drawdown date and has an additional 8% interest per annum if Youxin fails to make the required payments for the first year.

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