Beijing Shougang LanzaTech Technology's (HKG:2553) shares opened nearly 92% above their initial public offering price in a stellar Hong Kong debut on Wednesday morning.
The China-based carbon capture, utilization, and storage technology company opened at HK$28 per share, well above the offer price of HK$14.60.
Vysarn (ASX:VYS) entered into a binding share sale agreement for the acquisition of NWG Enterprises, which deals in industrial-scale irrigation systems, pumping systems, and ancillary technology, for a total consideration of up to 33 million Vysarn shares and AU$25 million in cash, according to a Wednesday Australian bourse filing.The upfront payment consideration will consist of AU$8.33 million in cash and 28.6 million Vysarn shares, with contingent deferred payments linked to NWG Enterprises' future earnings before interest and tax (EBIT) performance.NWG Enterprises will become a wholly owned subsidiary of Vysarn upon completion of the acquisition.The cash component of the acquisition consideration is proposed to be funded via a combination of Vysarn's existing cash reserves and the drawdown of new acquisition debt facilities.The acquisition is dependent on the firm completing its due diligence, securing sufficient funds for the upfront payment, and gaining consent or waiver from any person who is a counterparty to a material contract. The condition precedents must be satisfied or waived on or before Oct. 2.Its shares jumped 15% in recent trading on Wednesday, reaching an all-time high.
Mining and exploration company Vedanta (NSE:VEDL, BOM:500295) confirmed the raids conducted by India's Enforcement Directorate at its offices along with those of its subsidiary Hindustan Zinc (NSE:HINDZINC, BOM:500188), according to a Tuesday filing to the Indian stock exchanges.Vedanta said it is "extending its full co-operation to the authorities and providing all information sought," adding that it will make any required disclosures as and when needed.Media reports on Tuesday indicated that the searches at Vedanta's offices were being conducted in relation to alleged violations of the Foreign Exchange Management Act (FEMA) rules regarding royalty payments made by the company to its parent, Vedanta Resources.
Pateo Connect Technology (Shanghai) (HKG:2889) signed a non-binding memorandum of understanding to acquire a controlling stake in a high-performance communication chip designer, according to a Tuesday Hong Kong bourse filing.The proposed acquisition will be conducted jointly with a fund managed by Ping An Capital, with the size of the stake and consideration yet to be determined.The target develops high-speed optoelectronic chips, high-performance analog chips, and related modules used in AI data centers, and generated about 310 million yuan in revenue in 2025.Pateo said the deal would support its expansion into the upstream chip sector and strengthen its integrated "software-hardware-chip-cloud" strategy.