Vela Technologies (GB:VELA) has released an update.
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Vela Technologies has announced the sale of 430,000 shares in EnSilica, generating significant gains for the 2023 and 2024 fiscal years and retaining a 0.78% stake in the company. The proceeds from the sale are being used for working capital, following an initial investment in EnSilica’s pre-IPO round and subsequent share purchase. EnSilica, a company specializing in custom ASICs for various markets, has shown strong financial performance since its IPO, contributing to Vela’s positive investment returns.
For further insights into GB:VELA stock, check out TipRanks’ Stock Analysis page.
