Allison Transmission Makes ~$42M Equity Investment In Jing-Jin Electric Technologies

Allison Transmission Holdings Inc ALSN has announced participation in the initial public offering of Jing-Jin Electric (JJE), an integrated electrified propulsion systems manufacturer.
Allison will make a strategic investment of ¥264 million (about $42 million) as part of JJE's upcoming IPO at The Science and Technology Innovation (STAR) Board on the Shanghai Stock Exchange.
Allison's investment in JJE follows the recently announced strategic partnership between the two companies and an earlier debt financing commitment that will directly support JJE's North America commercial electric product development.
Price Action: ALSN shares closed higher by 1.08% at $35.41 on the last check Wednesday.