05:31 AM EDT, 09/13/2024 (MT Newswires) -- Uxin ( UXIN ) said Friday it has signed a memorandum of understanding with Pintu Information Technology for a proposed investment in Uxin ( UXIN ) by the latter.

Under the terms, Pintu plans to subscribe for about 1.54 billion class A ordinary shares of Uxin ( UXIN ) for a total subscription amount of $7.5 million, the firm added.

In connection with the investment, Pintu has signed a loan agreement with Youxin Industrial Investment, a unit of Uxin ( UXIN ), under which the former agrees to extend a loan for a principal amount of $7.5 million to Youxin.

Pintu is a unit of Dida.

Uxin's ( UXIN ) stock was up over 4% in recent Friday premarket activity.

Price: 1.59, Change: +0.07, Percent Change: +4.61