BRIEF: iMotion Automotive replaces auditor

1274.HK

Autonomous driving technology company iMotion Automotive Technology (Suzhou) Co. Ltd. (1274.HK) announced Tuesday that PricewaterhouseCoopers has resigned as its auditor, effective Nov. 5. The company’s board has recommended appointing KPMG as the new auditor.

iMotion also said it will seek shareholder approval at an extraordinary meeting authorizing it to issue up to $200 million in debt financing instruments, as part of an effort to give the company greater fundraising flexibility. Shares of iMotion rose 3.6% to HK$24.20 in early Wednesday trade.

By A. Au

To subscribe to Bamboo Works free weekly newsletter, click here

,
, ,

Related Articles

RELATED ARTICLES

No related posts.

Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Meta acquires Manus

Meta cuts Manus free from China, as regional lender gets premium bailout

In a landmark validation for Chinese AI, Facebook parent Meta has agreed to buy general AI agent maker Manus. But why is Meta also quite vehement about cutting all of Manus' China ties, both in terms of investors and business activity? And regional Chinese lender Weihai Bank has just received a major cash infusion from its local government in Shandong province. Is this a worrisome sign for investors?
META.US