Dongfeng's Voyah Seeks Initial Public Offering-钛媒体官方网站

After the capital increase, the equity held by the DFMG would be no less than 77%, the total equity held by strategic investors would be no more than 15%, and the equity held by the employee shareholding platform would be no less than 8%.

Image Source : China Visual

BEIJING, September 14 (TMTPOST) – Voyah, Dongfeng Motor Group Company Limited (DFMG)'s premium new energy vehicle brand, saw its capital increase project information disclosed to the public, according to its filing on the Shanghai United Assets and Equity Exchange (SUAEE) on Tuesday.

After this round of capital increase, the equity held by the DFMG would be no less than 77%, the total equity held by strategic investors would be no more than 15%, and the equity held by Wuhan Woya Enterprise Management Consulting Partnership (referred to as the "employee shareholding platform" ) would be no less than 8%.

Before the capital increase, the DFMG held 89.66% equity of Voyah, and the rest of 10.34% equity was held by the employee shareholding platform.

In July 2020, Dongfeng Motor launched a high-end new energy vehicle brand "Voyah", which is independently operated by Voyah Automobile.

Documents from the SUAEE show that the total amount of funds to be raised, the amount of the proposed capital increase and the number of new investors to be added are subject to the results of solicitation. Excluding the employees, the original shareholders will also participate in the capital increase.

Voyah said that the funds raised will be invested in technology research and development, digital system construction, production capacity construction, and marketing. When selecting investors, the company will consider the fit between the intended investors and the capital raisers, giving priority to those who can bring business, supply chain, and sales resources to the capital raisers.

On Tuesday, Voyah said that there is no financing schedule available to the public.

Voyah Automobile currently has two models on sale, namely the FREE SUV and the Dreamer MPV, both of which include range-extended and pure electric versions.

According to the capital increase document, in 2021 and the first half of 2022, Voyah's operating revenue was 1.767 billion ($247.38 million) and 1.887 billion yuan ($264.18 million) respectively.

Dongfeng's Voyah Seeks Initial Public Offering

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