Summary by Moomoo AI
XIOXIN NEW ENERGY HOLDINGS LIMITED (“XIOXIN NEW ENERGY”) ANNOUNCED ON 22 APRIL 2024 THAT THE COMPANY HAS ENTERED INTO A DISTRIBUTION AGREEMENT WITH THE EXCLUSIVE DISTRIBUTION AGENT TO OFFER UP TO 233,487,154 NEW SHARES AT A PRICE OF HK$0.26 PER SHARE, REPRESENTING APPROXIMATELY 16.67% OF THE ISSUED SHARE CAPITAL. The share offer represents a discount of approximately 13.33% from the closing market price of HK$0.3 per share at the latest trading day, with a net increase of approximately HK$59.7 million expected to be raised. The Company plans to use 90% of the net raised capital to support and invest, natural gas R&D, liquefied natural gas and integrated energy project management businesses, with the remaining 10% as general operating capital. The shares will be subscribed for by...Show More