Uxin has signed a financing agreement with its existing shareholder NIO Capital's affiliated company, which subscribed for 714 million senior convertible preference shares, with a total value of $100 million.
Online used car trading platform UXIN announced definitive agreements with Nio Capital and Joy Capital, in which both firms have agreed to invest a total of up to $315 million in the company.
58.com, China's largest online classifieds marketplace, completed the acquisition of Uxin's B2B used-car platform for a total transaction value of $105 million.
Uxin notified its employees that due to the issues caused by the COVID-19 outbreak，the company will suspend its operations for an indefinite time.
Uxin Limited, China’s leading used auto trading platform, filed for an initial public offering on Tuesday, seeking investments of up to $500 million on the Nasdaq Stock Market, and will run under the symbol of “UXIN”.