TU-TESL

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Recently, Geely Motor announced on the Hong Kong stock exchange that it has entered into a subscription agreement with Barclays, BNP Paribas, Bank of America Securities, HSBC, UBS, Bank of China, CITIC Lyon securities, DBS Bank Limited and Standard Chartered Bank for the issuance of US $500 million 4% preferred perpetual capital securities. The issue price of the securities will be 99.641% of the principal amount of the securities. The company has obtained the approval of the new stock exchange in principle for the listing and quotation of securities on the new stock exchange. The total amount of the proceeds will be approximately $498 million, and it is proposed to use the net proceeds for business development and general corporate purposes.