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GCL New Energy Holdings ( (HK:0451) ) just unveiled an announcement.
GCL New Energy Holdings has entered into a Subscription and Investment Agreement with Pharos under which it will allot and issue 186.5 million new shares, representing about 12% of its existing share capital and 10.71% of its enlarged share capital, under its existing general mandate. The transaction, classified as a discloseable transaction under Hong Kong listing rules and therefore requiring announcement and reporting but not shareholder approval, is intended to bring in new capital and an investment arrangement with Pharos, although completion remains subject to specified conditions, and the company has applied to the Hong Kong Stock Exchange for listing approval of the new shares.
The most recent analyst rating on (HK:0451) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on GCL New Energy Holdings stock, see the HK:0451 Stock Forecast page.
More about GCL New Energy Holdings
GCL New Energy Holdings Limited is a Hong Kong-listed company (stock code: 451) incorporated in Bermuda with limited liability, operating in the new energy and solar power sector, focusing on investment in and operation of clean energy assets and related services in its core markets.
Average Trading Volume: 8,430,808
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.74B
For an in-depth examination of 0451 stock, go to TipRanks’ Overview page.