Didi's subsidiary proposed to subscribe for a total of 1.544 billion shares of Uxin's (UXIN.US) Class A common shares
1min read DIDI Global (02559) announced that on September 12, 2024, Pintu Beijing (the Company's indirect wholly-owned subsidiary) entered into a Memorandum of Understanding with Uxin Limited (UXIN.US), whereby Uxin Limited agreed to issue and sell, and Pintu Beijing agreed to subscribe for, a total of 1,544,000,000 shares of Uxin Limited's Class A common stock at a subscription price of US$0.049 per share, which will be delivered to Pintu Beijing in the form of 514,620 shares of American Depositary Shares, for a total subscription amount of US$7.5 million.
On September 12, 2024, Pintu Beijing entered into a loan agreement with Uxin Anhui, whereby Pintu Beijing agreed to provide a loan of US$7.5 million to Uxin Anhui in the equivalent amount of RMB, maturing in 18 months from the date of extraction, subject to the terms and conditions of the loan agreement.
The Board believes that the proposed subscription is beneficial to the Group due to the potential synergies between the Group and Uxin Limited in the automotive aftermarket industry and the growth opportunities in the used car market. The Company expects to provide more after-sales services for private car owners on Uxin Limited's platform, promote used car trading, and attract more private car owners to enhance our passenger transportation capacity through cooperation with Uxin Limited.