GCL New Energy Completes Strategic Acquisition to Enhance Market Position

An announcement from GCL New Energy Holdings ( (HK:0451) ) is now available.

GCL New Energy Holdings Limited has completed a major acquisition, resulting in the company owning the entire issued share capital of the target company. This strategic move involves the issuance of consideration shares and conversion shares, which will consolidate the financial results of the target group into GCL’s financial statements, potentially strengthening its position in the renewable energy market. The acquisition also impacts the company’s shareholding structure, increasing the stake of the Zhu Family Group and reducing the proportion of public shareholders.

More about GCL New Energy Holdings

GCL New Energy Holdings Limited is a company incorporated in Bermuda, primarily engaged in the renewable energy sector. The company focuses on the development, construction, and operation of solar power plants, aiming to expand its market presence in the clean energy industry.

YTD Price Performance: -11.67%

Average Trading Volume: 10,943

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $79.32M

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