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Dida's Subsidiary to Subscribe for Uxin's Shares, Extends Loan to Youxin Anhui
Uxin's pre-market trading surged by nearly 29% at one point, and Dida Chuxing plans to subscribe to Uxin's shares for $7.5 million.
On September 13th, Uxin (UXIN.US) rose sharply before the market opened, with a peak increase of nearly 29% to $1.96, and the current increase narrowed to over 2%. In terms of news, Dida Chuxing announced that its wholly-owned subsidiary, Pintu Beijing, has reached a memorandum of understanding with Uxin. Based on this, Pintu Beijing has agreed to subscribe for 1.543 billion shares of Class A common stock of Uxin, and Uxin will deliver 5.1461 million American depositary shares as consideration, with a value of $7.5 million. At the same time, Pintu Beijing will provide a loan of $7.5 million to Uxin, with a term of 18 months. The board of directors of Dida Chuxing believes that due to the cooperation between the group and Uxin in the automotive aftermarket industry.
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Didi Chuxing (02559.HK) plans to subscribe for Uxin shares worth $7.5 million.
DiDi Travel (02559.HK) announced that its wholly owned subsidiary, Pintu Beijing, has entered into a memorandum of understanding with Uxin. Accordingly, Pintu Beijing has agreed to subscribe for 1.543 billion shares of Class A common stock of Uxin, with Uxin delivering 5.1461 million American depositary shares as consideration, at a price of $7.5 million. At the same time, Pintu Beijing will provide a $7.5 million loan to Uxin, with a term of 18 months. Uxin, whose American depositary shares are listed on the NASDAQ, is mainly engaged in providing second-hand car purchasing products and services to customers nationwide through online platforms and offline retail stores.
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