BRIEF: Guofu Hydrogen raises $12.8 million through share placement
Hydrogen energy equipment manufacturer Jiangsu Guofu Hydrogen Energy Technology Equipment Co. Ltd. (2582.HK), said on Wednesday that it will place about 2 million new shares for HK$50.13 each, raising about HK$100 million ($12.8 million).
The placement price represents a 9.68% discount to Wednesday’s closing price of HK$55.50, and the new shares will account for about 1.8% of the company’s enlarged issued share capital.
Guofu plans to use 72% of the proceeds to support its operational expenses, including payroll, social insurance, and payments to suppliers; 20% will be used to repay existing credit facilities, while the remaining 8% will be allocated for investments in hydrogen projects within China and overseas.
Shares of Guofu Hydrogen opened down 0.1% at HK$55.45 on Thursday. The stock is down 65% from its 52-week high.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
NEWS WRAP: Struggling JinkoSolar sees new potential in energy storage
BRIEF: Bilibili swings to profit as advertising revenue jumps
RELATED ARTICLES
-
BRIEF: Guofu Hydrogen raises $11.67 million via share placement at 17% discount
2582.HK -
Refire strings along investors with hydrogen hype
2570.HK
-
BRIEF: Lopal Tech raises $15 million in share placement
2465.HK
-
China plays defense on EV batteries, offense on hydrogen
3750.HK 2570.HK
-
BRIEF: Dmall raises $50 million in share placement at 10% discount
2586.HK
