China Energy Storage Technology Development Ltd., formerly known as Link-Asia International MedTech Group Limited, has announced a private placement of up to 44,856,000 new shares under a general mandate. The company plans to utilize approximately HK$14.5 million from the net proceeds to acquire energy storage products through a distribution agent. This move is part of the company's strategy to support business growth and diversify revenue streams in Asia, amid challenges in the European market and a complex global economic environment. The shares, each valued at HK$0.2, are expected to be issued at a net price of approximately HK$0.32 per share after deductions.
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