BAIC BluePark boosts capital with share issuance, eyes tech dominance

BAIC BluePark New Energy Technology (SSE:600733) has announced a plan to bolster its financial position through a targeted A-share issuance, signaling confidence in its future growth amidst intense competition in the NEV market. The plan will see the company issue no more than 1,672,050,950 shares to a select group of up to 35 investors, including major stakeholders BAIC Group (up to CNY 500 million) and BAIC Fotan (up to CNY 2.5 billion) seeking to raise up to CNY 6 billion.