- 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.
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