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NIO-SW: Subsidiary GeniTech’s Investors to Subscribe to Newly Issued Shares, Injecting RMB 2.257 Billion in Cash
14 hour ago /
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Author：小编
On February 26, NIO-SW (09866.HK) made an announcement stating that its subsidiary, GeniTech Co., Ltd. (hereinafter referred to as "GeniTech"), has signed a definitive agreement with Chinese investors. According to this agreement, GeniTech's investors will subscribe to newly issued shares of the company, contributing a total of RMB 2.257 billion in cash. GeniTech mainly shoulders the responsibility for NIO's intelligent driving chip business. Upon the completion of this transaction, NIO's subsidiary will retain a 62.7% stake in GeniTech, while GeniTech's investors will acquire a 27.3% stake. Additionally, entities participating in the share incentive plan will hold a 10% stake.
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