Geo-Jade Petroleum: OIE Capital intends to gain control of Geo-Jade Resources through capital increase
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Geo-Jade Petroleum announced that its wholly-owned subsidiary Hong Kong Derui intends to increase its investment in Geo-Jade Resources by USD 6.8 million, while OIE plans to increase its investment by CNY 16.1 million. After the capital increase, the shareholding ratios of Hong Kong Derui and OIE will be 30% and 70%, respectively. OIE hopes to gain control over Geo-Jade Resources through this capital increase to enhance its competitiveness in international resource trade and promote the development of its resource trading business
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