Summary by Futu AI
On June 28, 2024, Geely Auto announced that it had signed a sales agreement with Renault, Geely Holdings, GHPT Limited, Aurobay Holding (BVI), and Aramco Asia Singapore to sell 10% stake of the joint venture to Aramco Asia Singapore. After the transaction is completed, Aramco Asia Singapore, Aurobay Holding (BVI), GHPT Limited, and Renault will hold 10%, 29.7%, 15.3%, and 45% equity stake in the joint venture respectively. This transaction is considered a related transaction, as Geely Holdings and GHPT Limited are related parties of Geely Auto. The completion of the transaction is subject to specific conditions and is not necessarily completed. Geely Auto reminds its shareholders and potential investors to act prudently before the completion of the transaction.