-- Ev Dynamics (HKG:0476) will issue an additional 3.8 million shares to retail investor Ho Siu Kei, raising HK$1.98 million in net proceeds, according to a Monday Hong Kong bourse filing.
The shares will be issued at HK$0.52 each and will account for roughly 1.18% of the electric vehicle service provider's enlarged share capital.
Proceeds from the subscription will be used primarily to settle a court-ordered payment of 1.59 million yuan, plus accrued interest, owed by its Guangxi Weiri unit to the People's Court of Qingxiu District in Nanning. The remaining funds will go toward working capital.
The company previously raised about HK$1.9 million in April through a separate share issuance to the same subscriber.