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The latest update is out from Voyah Automotive Technology Co Ltd Class H ( (HK:7489) ).
Voyah Automotive Technology has approved a plan to convert 1,506,618,471 domestic shares held by certain shareholders, including controlling investors Dongfeng Motor Corporation and Wuhan Woya, into H shares eligible for listing and trading on the Hong Kong Stock Exchange. The move, once cleared by the China Securities Regulatory Commission and other regulators, is aimed at implementing full circulation of its H shares and could materially increase the company’s free float and liquidity in Hong Kong.
The company has yet to file its application with the CSRC and will disclose further details as the implementation plan is finalized, while stressing that the conversion remains subject to multiple regulatory procedures. Key shareholders have committed to lock-up arrangements, with Dongfeng Motor and Wuhan Woya barred from selling or entrusting pre-conversion shares for 36 months and other participating shareholders restricted for 12 months, a structure intended to support market stability as the enlarged H-share pool comes to market.
More about Voyah Automotive Technology Co Ltd Class H
Voyah Automotive Technology Co., Ltd. is a Chinese new energy vehicle manufacturer headquartered in Wuhan and listed in Hong Kong via H shares. The company is backed by controlling shareholders Dongfeng Motor Corporation and Wuhan Woya Enterprise Management Consulting, positioning it within the fast-growing PRC EV and smart vehicle sector with access to onshore and offshore capital markets.
Average Trading Volume: 20,690,637
See more data about 7489 stock on TipRanks’ Stock Analysis page.