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Tsaker New Energy Unit Nets 210 Million Yuan in Beijing IPO

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Tsaker New Energy Tech (HKG:1986) said its subsidiary Hebei Tsaker New Materials Technology completed its public offering and strategic placement ahead of its listing on the Beijing Stock Exchange, according to a Friday filing with the Hong Kong bourse.

Tsaker Technology issued nearly 8 million new shares at 30.28 yuan apiece, raising net proceeds of about 210.3 million yuan.

The offering included 7.2 million shares issued to 71,774 subscribers and 797,480 shares placed to two participants under the strategic placement plan.

Following the offering, Tsaker New Energy held an indirect 60.41% stake in Tsaker Technology, which will remain a subsidiary and continue to be consolidated into the group's financial statements.

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