On May 29, Lopal Technology announced that the company plans to use 80% of the funds raised from its H-share issuance to increase capital in its subsidiary CLBM New Energy Technology Company, amounting to Yuan 369.7056 million. Of this amount, Yuan 55.512923 million will be allocated to registered capital, while the remaining Yuan 314.192677 million will be recorded as capital reserve. After the capital increase, the registered capital of CLBM will rise to Yuan 834.127585 million, and it will remain a subsidiary under the company's control. CLBM intends to use the additional capital to invest USD 14 million in LBM New Energy (AP) PTE. LTD., a subsidiary under the company's control. This capital increase constitutes a connected transaction and requires approval at the shareholders' meeting.
Edited by Cassie Li, lixiangying@mysteel.com
