Dida Unit Acquiring Nearly 3% Stake in NASDAQ-Listed Uxin

MT Newswires Live11-05

Dida's (HKG:2559) subsidiary, Lightwind Global, agreed to subscribe for 1,543,845,204 class A ordinary shares of NASDAQ-listed Uxin for $7.5 million at $0.004858 per share, a Monday Hong Kong bourse filing said.

Upon the completion, Lightwind Global will hold a 2.67% of the enlarged equity interest of Uxin, which offers used-car buying products and services.

Pintu Beijing, the sole shareholder of Lightwind Global, will use its internal resources to fund the subscription.

The technology company's shares closed over 2% higher on Tuesday.

Price (HKD): $5712.69, Change: $-16, Percent Change: -0.28%

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