China Anchu’s Share Issue Aims to Raise HK$21M

China Anchu Energy Storage Group Ltd (HK:2399) has released an update.

China Anchu Energy Storage Group Ltd has announced a subscription agreement to issue 42 million new shares at HK$0.50 each, a significant premium over the recent closing prices, aiming to raise HK$21 million in gross proceeds. The funds are intended for general working capital. However, the completion of this deal is conditional and investors are advised to exercise caution.

For further insights into HK:2399 stock, check out TipRanks’ Stock Analysis page.