EVE Energy to acquire private placement shares of Huayou Cobalt
2021-01-27 15:29:28 [Print]
EVE Energy announced on January 26th that it will, together with its controlling shareholder Tibet EVE Holding Co., Ltd., use self-raised funds of RMB1.8 billion (USD278.58 million) to acquire private placement shares of Huayou Cobalt. EVE Energy and Tibet EVE Holding will invest RMB300 million (USD46.43 million) and RMB1.5 billion (USD232.15 million) respectively.
According to the announcement, Huayou Cobalt will issue no more than 342 million shares this time to raise no more than RMB6.02 billion (USD931.69 million). All the raised funds, after deducting issuance fees, will be used to build a nickel matte project representing an annual production capacity of 45,000t of nickel metal, a project which has an annual production capacity of 50,000t of NCM precursor materials used in high-nickel power battery production and an institute in the headquarters of Huayou Cobalt and supplement working capitals.
According to the announcement, Huayou Cobalt will issue no more than 342 million shares this time to raise no more than RMB6.02 billion (USD931.69 million). All the raised funds, after deducting issuance fees, will be used to build a nickel matte project representing an annual production capacity of 45,000t of nickel metal, a project which has an annual production capacity of 50,000t of NCM precursor materials used in high-nickel power battery production and an institute in the headquarters of Huayou Cobalt and supplement working capitals.
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