Shares of Jiuzi Holdings surged more than 20% in premarket trading on Wednesday after the company shared new details about its massive $1 billion capital plan.
The Chinese electric vehicle retailer said it plans to raise the funds through several sources. These include market financing, new investments from existing shareholders, company revenue, and contributions from institutional investors. The first phase of the plan is set to begin within the next two weeks.
CEO Tao Li said the company was encouraged by the strong backing from investors across different sectors. He added that this support shows confidence in Jiuzi’s achievements and its ability to grow further. He believes that having a stable and strategic capital base will give the company more strength to meet its long-term goals.
Jiuzi said the purpose of this funding plan is to grow its global market presence, improve its financial structure, and increase value for shareholders over time. The company also stressed that all transactions under the plan will be carried out transparently and in full compliance with relevant regulations.
According to Jiuzi, it has already held in-depth talks with institutional investors and long-term strategic partners, and the feedback has been very positive. The company said this diversified funding approach shows the market’s trust in its overall direction and business fundamentals.
