Dida Inc. (HK:2559) has released an update.
Dida Inc. has announced a significant investment move with its wholly-owned subsidiary, Lightwind Global Limited, agreeing to subscribe to over 1.5 billion Class A Ordinary Shares of Uxin Limited for $7.5 million. This transaction, considered a connected transaction due to the involvement of non-executive Director Mr. Li Bin, is subject to Hong Kong’s reporting requirements but does not require independent shareholder approval. Investors are advised to remain cautious as the completion of the subscription depends on certain conditions being met.
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