Houpu Clean Energy plans private share placement to boost liquidity
Houpu Clean Energy Group Co., Ltd. intends to issue no more than 65,992,879 shares via private placement to its actual controller, Wang Jiwen, and related entity, Yanxin Holding Group, at a price of CNY 6.39 per share. The move aims to raise up to CNY 421.69 million before expenses, which will be used to supplement working capital. The placement is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission. This strategic move is designed to improve the company's financial structure and market competitiveness, despite recent losses and a projected decline in revenue for 2024. Wang Jiwen and Yanxin Holding have committed to a 36-month lock-up period for the acquired shares.
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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