HONG KONG—Shares of China Evergrande New Energy Vehicle Group Ltd. rose 11.1 percent to $0.50 on Monday, after the company said it planned to raise around $347 million in a share placement.
Embattled property developer China Evergrande’s electric vehicle (EV) unit said on Friday it would issue about 900 million shares, or 8.3 percent of the enlarged capital, at about $0.39 apiece through a top-up placement.
