The controlling shareholder BAIC Group invested 3 billion yuan to exclusively participate in the private placement of Foton Motors_Oriental Fortune Net

recently,Foton Motorreleaseannouncementdisclosed the 2022 annual non-public issuance of A shares plan, the company’s holdingsshareholderBeijing AutoThe Group Co., Ltd. will invest 3 billion yuan to exclusively participate in this non-public offering.

The announcement shows that the issue price is 2.10 yuan per share, and the number of issued is 1.429 billion shares, accounting for 21.73% of the company’s total share capital before the issue.BAIC GroupFoton MotorThe shareholding ratio of BAIC Group has been lower than 30% in recent years, and the shareholding ratio is relatively low. After the completion of this non-public offering, BAIC Group willFoton MotorThe shareholding ratio will reach more than 40%, and the control over the company will be further strengthened.

Industry analysts said that Foton Motor, as a commercial vehicle segment, is the highest quality asset under the independent control of BAIC Group. BAIC Group’s exclusive participation in the non-public offering fully reflects its full support for the development of Foton Motor and its confidence in the company’s future development. It provides strong strategic support for the upgrading of commercial vehicle industry structure. From the perspective of the industry, the arrival of BAIC Group’s 3 billion yuan of funds will undoubtedly optimize the capital structure of Foton Motors and meet the financial needs of new products in the future. (Li Gongsheng)

(Article source: ShanghaisecuritiesNewspaper Chinasecuritiesnetwork)

Article source: Shanghai Securities News China Securities Network

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Original title: The controlling shareholder BAIC Group invested 3 billion yuan to exclusively participate in the private placement of Foton Motors