Geo-Jade Petroleum: OIE Capital intends to gain control of Geo-Jade Resources through capital increase
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
According to the announcement from Zhitong Finance APP, Geo-Jade Petroleum (600759.SH) stated that its wholly-owned subsidiary, Hong Kong Derui, holds 100% equity in Geo-Jade Resources. To supplement the funding required for the production and operation of Geo-Jade Resources and support its business development, Hong Kong Derui plans to increase its capital in Geo-Jade Resources by a total cash amount of USD 6.8 million, while OIE plans to increase its capital in Geo-Jade Resources by a total cash amount of CNY 16.1 million. After the completion of this capital increase, Hong Kong Derui and OIE will hold 30% and 70% of Geo-Jade Resources, respectively. The registered capital of Geo-Jade Resources will increase from USD 100,000 to USD 23 million.
OIE's actual controller has been deeply involved in the natural resources sector, including crude oil, natural gas, copper, and gold, for over a decade, accumulating rich upstream project resources, long-term cooperative relationships, and industry chain operation experience, with strong resource integration and global allocation capabilities.
To achieve deep integration between the resource end and the trade end, enhancing competitiveness and bargaining power in international resource trade, OIE plans to gain control over Geo-Jade Resources through capital increase, positioning Geo-Jade Resources as a regional bulk commodity trading platform, building a market network and trading system, leveraging its full industry chain advantages in the energy and metal resource fields, effectively controlling the trading risks of the listed company while accelerating the development and expansion of the resource trading business segment, and strengthening its strategic layout in the natural resource trading field, achieving a value extension from resource investment to resource circulation
