GOLDENPOWER issues new shares at a 13% discount to introduce major shareholders, raising HKD 6.48 million

GOLDENPOWER (03919.HK) announced that it will issue a total of 6.48 million new shares to an independent third party, Electronica Capital, at a price of HKD 1 per share, representing a discount of 13.04% compared to the last trading day (24th). The total fundraising amount is HKD 6.48 million, with a net amount of HKD 6.4 million intended for expanding the battery business into the electric vehicle fast charging market; repaying bank financing; and general working capital. Upon completion, the subscriber will become the company's major shareholder, holding 16.67%