JAC Motors adjusts private A share offering plan, lowers target

Anhui Jianghuai Automobile Group Corp (JAC Motors, SSE:600418) has announced a revision to its plan for issuing A shares to specific targets, outlined in a new feasibility analysis report and related filings. The proposed fundraising target has been reduced from a maximum of CNY490 million to CNY350 million. This adjustment necessitates revisions across the board, including changes to the proposed use of funds. The raised capital is earmarked to fund a high-end intelligent electric platform development project. The company affirmed this remains a priority despite the lowered target. The adjustments required modifications to the preliminary prospectus and related analysis. While the overall structure remains the same, specific elements have been adjusted to reflect the revised strategy. The company also reiterated its commitment to comply with regulatory requirements to protect shareholder interests and ensure the measures to mitigate dilution will be fulfilled.