Jiangsu Lopal Tech's (HKG:2465) subsidiary LBM New Energy (AP) agreed to allot and issue 45.35% of its enlarged share capital to two investors for $200 million, a Friday Hong Kong bourse filing said.
LBM New Energy (AP) will allot and issue 34.01% of its enlarged share capital to Akasya Investasi Indonesia for $150 million and 11.34% to Aisis Alliance for $50 million.
The company plans to use the proceeds from the disposal for its ordinary operations as well as business undertakings in Indonesia.
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