GCL Technology Completes US$148 Million Convertible Bond Issue for Working Capital and Debt Repayment
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GCL Technology Holdings Limited has successfully issued US$148 million in 6.95% guaranteed convertible bonds due 2027, enhancing its funding channels and access to international capital markets. The net proceeds, approximately HK$1,137 million, will primarily support working capital and repay offshore loans. This strategic move aims to strengthen the company's liquidity and balance sheet, facilitating ongoing operations and growth. The latest analyst rating for GCL Technology (HK:3800) is a Buy, with a price target of HK$1.12.
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