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Genesis Energy raises capital to be sold

Genesis Energy, a Hungarian company that is building solar panel plants in Hungary, Spain and Singapore, on Friday said it will raise capital between HUF 283m and HUF 833m with the issue of shares in a private placement.

The capital raise is a condition for the sale of Genesis Energy's units in Spain and Singapore to UK-based combined heat and power (CHP) systems maker Cogenco.

The subscription period for the 566,666-1,666,660 shares will be between July 17 and August 14. (MTI-ECONEWS)