Energy International Investments to Raise HK$253.6 Million via Connected Share Subscription

Energy International Investments Holdings Ltd ( (HK:0353) ) has issued an update.

Energy International Investments Holdings Limited has entered into three subscription agreements with separate investors for the conditional issue of 1,035,000,000 new shares at HK$0.245 per share, raising gross proceeds of approximately HK$253.6 million. The new shares will represent about 48.92% of the enlarged share capital and will be issued under a specific mandate subject to approval by independent shareholders at an extraordinary general meeting, with an application to list the shares on the Hong Kong Stock Exchange. As one of the subscribers is the controlling shareholder and another is a connected person at the subsidiary level, parts of the transaction constitute connected transactions under Hong Kong listing rules, triggering announcement, reporting, and independent shareholder approval requirements. An independent board committee of non-executive directors has been formed and an independent financial adviser appointed to evaluate the fairness and commercial terms of the subscription involving the controlling shareholder, reflecting heightened governance scrutiny and implications for minority shareholders’ dilution and influence over the company’s future capital structure.

The most recent analyst rating on (HK:0353) stock is a Hold with a HK$0.31 price target. To see the full list of analyst forecasts on Energy International Investments Holdings Ltd stock, see the HK:0353 Stock Forecast page.

More about Energy International Investments Holdings Ltd

Energy International Investments Holdings Limited is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 353. The group operates within the energy and related investment sector, using capital markets financing to support its business development and strategic investments in its operating subsidiaries and projects.

Average Trading Volume: 404,278

Technical Sentiment Signal: Sell

Current Market Cap: HK$329.6M

For detailed information about 0353 stock, go to TipRanks’ Stock Analysis page.