FilingReader Intelligence

Gem plans sale of Ecopro Materials shares

February 28, 2025 at 05:13 PM UTCBy FilingReader AI

GEM Co., Ltd. [SZSE:002340] announced its subsidiary, Jingmen GEM New Materials, intends to sell up to 2,022,074 shares of ECOPRO MATERIALS Co., Ltd. [450080.KS], a company listed on the Korea Exchange. This represents 3% of ECOPRO MATERIALS' total share capital, acquired before its IPO. The move aims to maximize shareholder value, improve asset liquidity, and fund the construction of a green nickel resource park in Indonesia. Approved by GEM's board on February 27, 2025, the sale's execution, including timing and pricing, will be managed by the company. The final impact on earnings will depend on market conditions and be disclosed in accordance with accounting standards.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:002340Shenzhen Stock Exchange

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