China Energy Storage Completes New Share Placement

Link-Asia International Medtech Group Ltd. (HK:1143) has released an update.

China Energy Storage Technology Development Limited has successfully completed the placement of 17,256,000 new shares, raising approximately HK$26.1 million in gross proceeds. The net proceeds, after expenses, amount to about HK$25.3 million, which will be mainly used for the development of renewable energy storage systems for electric vehicles. The placement has slightly adjusted the company’s shareholding structure, with new placees now holding 7.7% of the enlarged share capital.

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