China’s Dongfeng Plans to List EV Unit, Take Rest Private (1)

Dongfeng Motor Group Co. plans to withdraw its Hong Kong shares in a new twist on a long-awaited restructuring, part of transaction that will result in a new stock listing for its Voyah line of luxury new-energy vehicles.

Dongfeng’s H shareholders will receive HK$6.68 ($0.85) in cash and 0.3552608 Voyah H shares for each share they currently own, according to a filing Friday. The aggregate theoretical value of the transaction is about HK$10.85 per share, well above the HK$5.97 value of the shares when trading was suspended earlier this month.

The move comes after China’s State Council signaled its support ...