On the evening of May 5, Wanxiang Qianchao announced that it plans to purchase 100% of Wanxiang's shares in WAC through the issuance of shares and cash payments, and also to raise supporting capital by issuing shares to no more than 35 specific investors. Trading of the company's shares will resume from the opening of the market on May 6.
浙商大佬出手！“万向系”迎来重大资本运作 拟购买控股股东美国资产
Zhejiang businessmen take action! “Wanxiang System” ushered in major capital operations to purchase controlling shareholder US assets
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