GCL Technology (HKG:3800) completed the issue of over 1.35 billion shares to Infini Global Master Fund at HK$1.15 apiece, a Wednesday Hong Kong bourse filing said.
Shares of the solar materials manufacturer were down 1% in Thursday afternoon trading.
Infini Global Master Fund was designated by Infini Capital Management to subscribe for the shares under a September agreement.
Under the contract, a total of nearly 4.74 billion shares will be issued to Infini Capital Management or its designated party to raise HK$5.45 billion for strengthening its business and expanding production capacity.
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