GCL New Energy Expands with Major Acquisition and Financial Agreements

GCL New Energy Holdings ( (HK:0451) ) has shared an announcement.

GCL New Energy Holdings Limited announced a significant acquisition agreement to purchase the entire issued share capital of a target company for RMB325 million. The acquisition is structured through a combination of cash, consideration shares, and convertible bonds, and will result in the target company becoming a wholly-owned subsidiary with its financial results consolidated into GCL’s statements. Additionally, GCL Petroleum, a subsidiary, will continue to provide loans to related entities, reinforcing financial ties within the group. This transaction is deemed a major and connected transaction under the Listing Rules, requiring shareholder approval and reflecting strategic expansion efforts by GCL New Energy within its sector.

More about GCL New Energy Holdings

GCL New Energy Holdings Limited is a company incorporated in Bermuda, primarily operating in the renewable energy sector. It is involved in the acquisition and development of solar energy projects, with a focus on expanding its market presence through strategic transactions and financial operations.

YTD Price Performance: -3.33%

Average Trading Volume: 3,553

Technical Sentiment Consensus Rating: Hold

Current Market Cap: $81.93M

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