Cao Cao plans to launch an equity incentive plan for its employees. The performance targets include reaching 100,000 Robotaxis and achieving a market value of one hundred billion Hong Kong dollars.
Geely's subsidiary Cao Cao Mobility is planning to launch a stock incentive plan. On January 28th, Cao Cao Mobility announced that the company has officially signed a placing agreement with joint placing agents. According to the agreement, the company plans to place up to 12 million shares at a price of HK$32.46 per share. The 12 million shares represent approximately 2.11% of the total number of issued shares of the company as announced on the same day. The announcement states that the net proceeds from the placement will be approximately HK$383 million, with around 67.7% to be used for the development of the group's Robotaxi business both domestically and internationally, around 22.3% for the expansion of the group's enterprise services, and around 10% for operating capital and other general corporate purposes.
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