GCL Technology to Raise HK$1.17 Billion via Convertible Bonds for M&A Fund

GCL-Poly Energy Holdings ( (HK:3800) ) just unveiled an update.

GCL Technology Holdings plans to issue up to HK$1.17 billion in convertible bonds to a professional investor under its general mandate, with the bonds convertible at HK$1.60 per share into up to 731.25 million new shares, representing about 2.20% of its existing share capital. The proceeds are earmarked for investment in a merger and acquisition fund jointly overseen by the company and the subscriber, signaling a push to deploy fresh capital into strategic deals; while the bonds will not be listed, the new shares upon conversion will seek listing approval in Hong Kong, and the transaction, which does not require shareholder approval, underscores GCL’s intent to pursue growth through M&A amid evolving opportunities in its sector.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

More about GCL-Poly Energy Holdings

GCL Technology Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates in the clean energy and related technology sector, with its shares traded under stock code 3800. The company taps capital markets to support expansion and investment activities aimed at strengthening its position in fast-growing energy and technology-related segments.

Average Trading Volume: 495,994,610

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$37.53B

Learn more about 3800 stock on TipRanks’ Stock Analysis page.