GCL New Energy Raises HK$131 Million Through Share Placement for Solar Expansion

GCL New Energy Holdings ( (HK:0451) ) has issued an update.

GCL New Energy Holdings has completed a share placement of 127 million new shares, representing about 7.55% of its enlarged issued share capital, at HK$1.05 per share to at least six independent investors. None of the placees or their associates became substantial shareholders as a result of the transaction, preserving the existing shareholder structure.

The placement raised gross proceeds of approximately HK$133 million, with net proceeds of about HK$131 million after expenses. The company plans to allocate HK$60 million to expand and digitally upgrade its solar operations and management business, HK$15 million to grow its energy and related products trading business, HK$15 million to repay bank and other loans, and HK$41 million for general working capital, with most funds expected to be fully deployed by the end of 2026.

More about GCL New Energy Holdings

GCL New Energy Holdings Limited is a Bermuda-incorporated company listed in Hong Kong, operating in the solar energy and broader clean energy sector. Its primary businesses include solar operations and management, as well as trading of energy and related products, with a focus on expanding and digitally upgrading its renewable energy capabilities.

Average Trading Volume: 8,501,109

Technical Sentiment Signal: Hold

Current Market Cap: HK$1.55B

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