A share sale plan between China Evergrande New Energy Vehicle Group (0708.HK), the electric-vehicle arm of embattled property developer China Evergrande (3333.HK) and U.S.-listed NWTN (NWTN.O) has been halted, according to a Hong Kong bourse stock filing on Sunday.
The suspension of the share subscription deal was due to “significant uncertainties” tied to the Evergrande group, the filing by the Chinese firm said.
Previously, Evergrande said investigations had been initiated against the parent company, its founder and senior executives, while the firm’s debt restructuring plan has also been derailed.
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