GCL Technology (HKG:3800) completed the issue of over 1.35 billion shares to Infini Global Master Fund at HK$1.15 apiece, a Wednesday Hong Kong bourse filing said.

Shares of the solar materials manufacturer were down 1% in Thursday afternoon trading.

Infini Global Master Fund was designated by Infini Capital Management to subscribe for the shares under a September agreement.

Under the contract, a total of nearly 4.74 billion shares will be issued to Infini Capital Management or its designated party to raise HK$5.45 billion for strengthening its business and expanding production capacity.