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The latest announcement is out from Add New Energy Investment Holdings Group Ltd. ( (HK:2623) ).
Add New Energy Investment Holdings Group Ltd. has agreed to acquire 37.7 million shares in Australian-listed Horizon (HRZ), equal to about 14.46% of its issued share capital, for A$40.7 million, to be paid by issuing 46.78 million new Add New Energy shares under its general mandate at HK$4.70 each. Together with a prior subscription for up to 36.6 million HRZ shares to support HRZ’s gold processing hub near Kalgoorlie, the aggregated transactions constitute a discloseable transaction under Hong Kong listing rules, and the company has applied for resumption of trading in its shares following a suspension pending this announcement.
The acquisition further deepens Add New Energy’s exposure to HRZ’s gold development project in Western Australia and signals a strategic bet on gold processing infrastructure. By settling the consideration entirely in shares, the company preserves cash while diluting existing shareholders, and the classification as a discloseable transaction underscores the growing financial significance of its stake in HRZ for investors monitoring its capital allocation and resource-sector strategy.
The most recent analyst rating on (HK:2623) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on Add New Energy Investment Holdings Group Ltd. stock, see the HK:2623 Stock Forecast page.
More about Add New Energy Investment Holdings Group Ltd.
Add New Energy Investment Holdings Group Ltd., incorporated in the Cayman Islands and listed in Hong Kong, is an investment holding company active in the new energy and resources sector. The group seeks strategic equity positions in resource-related businesses, including overseas mining and processing assets, to expand its portfolio and enhance long-term growth potential.
Average Trading Volume: 1,678,818
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.03B
See more data about 2623 stock on TipRanks’ Stock Analysis page.