According to Zhitong Finance App News, GCL New Energy (00451) announced that on April 22, 2024 (non-trading period), the company and the exclusive placement agent entered into a placement agreement. The company agreed to appoint an exclusive placement agent, and the exclusive placement agent agreed to act as the placement agent and to do its best to enable the subscribers to subscribe for up to 233 million shares at an placement price of HK$0.26 per share.

The largest number of shares placed accounted for approximately 16.67% of the company's expanded issued share capital through placement (assuming there was no change in the company's issued share capital from the date of this announcement until completion of the placement). The placement price was HK$0.26 per share, a discount of approximately 13.33% from the closing price of HK$0.3 per share reported on the Stock Exchange on April 22.

The estimated net amount of capital raised for placement matters (after deducting all fees, costs and expenses appropriately incurred by the company (including exclusive placement agency commissions, Stock Exchange transaction fees and transaction levies levied by the Securities Regulatory Commission and the Accounting and Financial Reporting Authority), and other expenses of the company due to the placement) is expected to reach a maximum of HK$59.7 million. The company plans to use 90% of the estimated net capital raised from the placement to support the costs associated with investment, research and development of natural gas, liquefied natural gas and integrated energy project management business, as well as the development of operation and maintenance services in other energy industries, and 10% of the estimated net capital raised from placement matters as the group's general working capital.