Jiangsu Lopal Tech's Subsidiary to Dispose of 45% of Enlarged Share Capital for $200 Million

MT Newswires Live

2024/12/23

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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