GCL New Energy expands issued share base by 8.17% in April on HK$133.35 million placement

Bulletin Express15:02

GCL New Energy Holdings Limited (GCL New Energy) released its monthly return for April 2026, detailing an 8.17% rise in issued share capital following a fresh equity placement.

The company allotted 127.00 million new ordinary shares on 28 April 2026 under a general mandate at HK$1.05 per share, enlarging the issued share count to 1.68 billion shares from 1.55 billion at end-March. Based on the disclosed placing price, the transaction generated approximately HK$133.35 million in gross proceeds.

Authorised share capital remained unchanged at 3.00 billion ordinary shares with an aggregate par value of HK$250.00 million.

Dilutive instruments outstanding include: • Share options: 14.80 million options granted in 2021 remain unexercised, while the 2024 scheme permits issuance of up to 140.09 million additional shares. • Convertible bonds: HK$63.72 million in bonds, convertible at HK$0.45 per share, could add up to 141.60 million shares. • Subscription agreement: A tranche-based arrangement signed with Pharos Network Technology Limited allows for the future issuance of up to 183.48 million shares, subject to conditions precedent.

The company confirmed that it met the minimum 25% public-float requirement as at 30 April 2026.

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