TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Gallant Venture ( (SG:5IG) ) has issued an announcement.
Gallant Venture Ltd. has announced a strategic move to invest in new power plants, aiming to diversify its power generation portfolio and meet increasing energy demands. The company, through its subsidiary PT BIC, has entered into a non-binding term sheet with Broadwood Road Limited for a potential subscription of convertible bonds worth up to US$683.6 million. This investment will fund the construction of a coal-fired power plant in Indonesia. The transaction’s completion is contingent upon several conditions, including definitive agreements and necessary approvals, with a target completion date by March 2026.
More about Gallant Venture
Gallant Venture Ltd. operates in the utilities sector, focusing on power generation. The company is expanding its energy portfolio to meet growing demand, with a particular emphasis on diversifying its power generation capabilities.
Average Trading Volume: 77,431
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$442.5M
For an in-depth examination of 5IG stock, go to TipRanks’ Overview page.