Tencent, others to buy $516.12 million worth shares in China Evergrande New Energy Vehicle

China Evergrande New Energy Vehicle Group said on Tuesday investors including Tencent Holdings Ltd and Sequoia Capital will buy HK$4 billion ($516.12 million) worth of company shares in a share sale, reported Reuters. 

The electric vehicle unit of property developer China Evergrande said its controlling shareholder plans to sell 176.58 million existing shares, or about 2% of the share capital, to not less than six third-party investors.

The shares will be sold at HK$22.65 per share, representing a 19.96% discount to Monday’s close of HK$28.30. Yunfeng Fund and Didi Chuxing are also among the investors who will buy shares of China Evergrande New Energy Vehicle Group.