-- Jiangsu Guofu Hydrogen Energy Equipment (HKG:2582) agreed to invest $3.6 million in Nasdaq-listed U Power for an 8.70% stake in the business, according to a Hong Kong bourse filing Monday.
Shares of the hydrogen energy equipment provider fell over 1% in morning trade Tuesday.
Guofu Hydrogen said the subscription is a long-term investment which "may bring positive returns."
NMDC Energy (ADX:NMDCENR) said Tuesday its preliminary profit for the first quarter tumbled, while contract revenue increased year over year.Preliminary profit attributable to shareholders for the three months ended March 31 was 79.6 million Emirati dirhams, compared with 216.2 million dirhams earlier. EPS moved to 0.016 dirham from 0.043 dirham.The offshore and onshore energy sector engineering and construction company's contract revenue was 4.96 billion dirhams, compared with 3.73 billion dirhams a year ago.
Nickel Industries (ASX:NIC) said it has executed new $450 million syndicated loan facilities led by PT Bank Negara Indonesia (BNI), comprising a $350 million term loan and a $100 million revolving loan facility, both unsecured, according to a Tuesday Australian bourse filing.The company said the facilities have been established to retire its existing $398 million of bank loans outstanding as of March 31, as well as for general working capital purposes.The interest rate will be a margin above the Secured Overnight Financing Rate (SOFR), currently about 3.66%, at 3.50% for the first six months and thereafter linked to the company's leverage level, the filing added.Following the refinancing, the company will have net debt of about $994 million, comprising $800 million of senior unsecured notes expiring October 2030, the $350 million term loan, and $100 million revolver, and $256 million in cash, it added.