SC New Energy invests $100m+ in Runyang via debt swap
Shenzhen SC New Energy Technology Corp (SZSE:300724) announced a 720 million yuan (approximately $100 million USD) investment in Jiangsu Runyang New Energy Technology Co., Ltd. The investment will be executed through a debt-to-equity swap, converting existing debt into equity. Following the transaction, Shenzhen SC New Energy will hold 40.5 million shares of Runyang, representing approximately 8.09% of its total equity. The investment is intended to resolve customer debt issues and strengthen the relationship between the companies. The announcement also notes risks associated with the execution of the debt swap and the predictability of investment returns.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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