gap covered. back to 70
Better stay away from trading first. Market in deep red now.
62 whacked. Shiok.
market not confident in the deal? going back to 60s.. HUAT..
Shares in Leader Environmental Tech open 27.4% higher as Chinese cleantech fund invests US$15 mil in the company
Following its trading halt on Oct 10, environmental solutions provider Leader Environmental Technologies announced, on Oct 11, that it entered into a definitive agreement with InnoVision Pomelo LP for US$15 million ($21.6 million) in convertible bonds (CB).
InnoVision Pomelo LP is a special purpose vehicle (SPV) established by China InnoVision Capital GP. Founded in 2016, China InnoVision Capital is broadly seen as an institutionalized Asian / Chinese private equity 3.0 manager with a strong and proven track record.
According to Leader Environmental Technologies, the conversion price of 10 cents per share represents a premium of 73.9% to the volume-weighted average price (VWAP) of the last trading day of the company prior to the announcement.
The company will not pay out any annual interest for the zero-coupon CB. The CBs have a three-year tenure with an option for Leader Environment Technologies to extend the maturity date by a further two years or less, reads the Oct 11 statement by Leader Environment Technologies.
Upon conversion, holders of the CB will own approximately 12.25% of Leader Environmental Technologies&rsquo enlarged share capital.
Leader Environmental Technologies is an environmental protection solutions provider in mainland China. It is involved in research and development, design, manufacturing, assembly, installation and support services of environmental protection systems, primarily for industrial waste gas and wastewater emissions.
According to the company, the investment will support Leader Environmental Technologies in building a portfolio of sludge treatment and artificial intelligence (AI) water management projects.
Li Li, CEO of Leader Environmental Technologies says, &ldquo we highly appreciate InnoVision Capital&rsquo s deep insights in the green economy space and their strong value creation capabilities with this agreement, which will bring us meaningful value to grow our business over time.&rdquo
&ldquo We are confident that the company will benefit from the nascent but large addressable market with high growth potential in Asia where there are inadequate treatments of sludge as well as higher energy costs to operate wastewater treatment plants efficiently to meet the high discharge standards,&rdquo says Lane Fu Zhao, founder and CEO of InnoVision Capital.
Following the Oct 11 announcement, shares in Leader Environmental Technologies opened at 7.9 cents on Oct 12 after closing at 6.2 cents the day prior.
68 looks firm.. need to hold..
are shortists in control?
tofudidi ( Date: 12-Oct-2022 14:07) Posted:
Conversion price 100 hor !! later ai rocket liao!
spursfan ( Date: 11-Oct-2022 20:37) Posted:
Halt lifted
FOR IMMEDIATE RELEASE
Leader Environmental Technologies Limited receives US$15 million
investment from funds managed by InnoVision Capital
● InnoVision Capital is an institutionalized Asian/PRC Private Equity 3.0 manager,
founded by former KKR?s member.
● Convertible bond (?CB?) investment with zero annual interest and a conversion price
of S$0.10 per Share, representing a premium of 73.9% of the volume weighted
average price (?VWAP?) of S$0.0575 of the last trading day.
● The US$15 million investment will accelerate the Group?s growth in the Sludge
Treatment and Artificial Intelligence (AI) Water Management business.
https://links.sgx.com/1.0.0/corporate-announcements/66IK42ACUH8853NL/734049_20221011%20Press%20Release.pdf |
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Conversion price 100 hor !! later ai rocket liao!
spursfan ( Date: 11-Oct-2022 20:37) Posted:
Halt lifted
FOR IMMEDIATE RELEASE
Leader Environmental Technologies Limited receives US$15 million
investment from funds managed by InnoVision Capital
● InnoVision Capital is an institutionalized Asian/PRC Private Equity 3.0 manager,
founded by former KKR?s member.
● Convertible bond (?CB?) investment with zero annual interest and a conversion price
of S$0.10 per Share, representing a premium of 73.9% of the volume weighted
average price (?VWAP?) of S$0.0575 of the last trading day.
● The US$15 million investment will accelerate the Group?s growth in the Sludge
Treatment and Artificial Intelligence (AI) Water Management business.
https://links.sgx.com/1.0.0/corporate-announcements/66IK42ACUH8853NL/734049_20221011%20Press%20Release.pdf |
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after lunch goreng shortist up. back to 80
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