LongiTech Smart Energy aims to generate aggregate net proceeds of HK$285 million ($36.46 million) via a new share placement in Hong Kong.
LongiTech Smart Energy Holding has recorded a profit attributable to the owners of the company of CNY 45.76 million ($7 million) for the first half of 2017, up 8.5% year on year, as it rapidly expanded its core PV development and smart-energy management businesses.
The Chinese company has purchased the entire equity interest in Gaobeidian Guangshuo New Energy for HK$130 million ($16.7 million). As part of the deal, it will issue 44,820,000 consideration shares at HK$2.9 per share.
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