Latest news with #HainanDrindaNewEnergyTechnology
Express Tribune
14-05-2025
- Business
- Express Tribune
Ethiopia secures $1.7 billion in energy and mineral deals with Chinese investors
Listen to article Ethiopia has secured over $1.7 billion in new investment commitments for its minerals and energy sectors, mostly from Chinese companies, the country's finance ministry said late Tuesday. The agreements were signed during a two-day investment conference in Addis Ababa aimed at attracting foreign capital to support the country's economic reforms. The deals include a $500 million investment from Hua Ye Mining Processing Company to explore and process minerals and develop a special economic zone focused on the sector. Another $600 million will come from Sequoia Mining & Processing Plc to advance coal mining projects. Chinese clean energy firms are also backing the effort. Hainan Drinda New Energy Technology pledged $360 million to build a solar cell manufacturing plant, while CSI Solar committed an additional $250 million for solar energy development. The ministry did not provide a timeline for the disbursement of the funds. Ethiopia, one of Africa's most populous nations, is undergoing major economic reform, including a planned flotation of its currency, the birr, and an $8.4 billion debt restructuring effort with official creditors. The country also signed a $3.4 billion, four-year programme with the International Monetary Fund in July 2023, aimed at supporting macroeconomic stability and unlocking new external financing. The finance ministry said the agreements reflect growing investor confidence in Ethiopia's economic transformation agenda.
Time of India
28-04-2025
- Business
- Time of India
Hong Kong listings show market active as tariff turmoil slows other regions
Despite global market volatility fueled by U.S.-China trade tensions, Hong Kong's equity market remains active with two new listings. Hong Kong's equity markets remain active despite global trade tensions. Two companies are set to launch stock listings. They aim to raise a combined $270 million. Hainan Drinda New Energy Technology seeks up to $234 million. Auntea Jenny, a tea drinks company, plans to raise up to $35 million. These deals proceed even as the Hang Seng Index experiences fluctuations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Two stock listings in Hong Kong launching on Monday and seeking to raise up to $270 million are showing that the region's equity markets remain active even as trade tensions between the U.S. and China has slowed offerings book building for the deals comes as global financial markets have been roiled by the massive tariffs the U.S. and China have placed on each other's trade, threatening the commerce that underpins the growth of the world's two largest economies. Amid the uncertainty, companies are holding back new listings and some Chinese companies are pressing on amid the Hainan Drinda New Energy Technology is aiming to raise up to $234 million in a Hong Kong listing, according to regulatory filings on Shenzhen-listed firm is selling 64.4 million shares in a price range of HK$20.40 to HK$28.60 ($3.69) each, the filings that range, Hainan Drinda, a photovoltaic cells developer and producer, will raise $167 million to $234 tea drinks company Auntea Jenny launched its initial public offering in Hong Kong to raise up to $35 million, its filings company will sell 2.41 million shares in the deal in a price range of HK$95.57 to HK$113.12 each, according to its Kong's Hang Seng Index has fallen 5% so far in April, but is up 9% for the year.($1 = 7.7573 Hong Kong dollars)
RTHK
28-04-2025
- Business
- RTHK
Two new IPO listings in HK aim to raise US$270m
Two new IPO listings in HK aim to raise US$270m Regulatory filings show China tea drinks company Auntea Jenny launched its IPO to raise up to US$35 million. File photo: AFP Two stock listings, launching in Hong Kong on Monday, are seeking to raise up to US$270 million. Hainan Drinda New Energy Technology is aiming to raise up to US$234 million in a Hong Kong listing, according to regulatory filings on Monday. The Shenzhen-listed firm is selling 64.4 million shares in a price range of HK$20.40 to HK$28.60 each, the filings showed. In that range, Hainan Drinda, a photovoltaic cells developer and producer, will raise US$167 million to US$234 million. Separately, tea drinks company Auntea Jenny launched its initial public offering in Hong Kong to raise up to US$35 million, its filings showed. The company will sell 2.41 million shares in the deal in a price range of HK$95.57 to HK$113.12 each, according to its filings. Hong Kong's Hang Seng Index has fallen 5 percent so far in April, but is up 9 percent for the year. (Reuters)
