NaaS Technology Acquires Majority Stake In Solar Energy Services Provider Sinopower
Portfolio Pulse from Shivani Kumaresan
NaaS Technology Inc's subsidiary Dada Auto has agreed to acquire 89.999% of Sinopower Holdings International for $6.1 million. Sinopower is a rooftop solar energy developer in Hong Kong. The acquisition is expected to close in June 2023.
June 12, 2023 | 3:15 pm
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NaaS Technology's acquisition of Sinopower may expand its capabilities in solar projects and EV charging. However, the stock is trading lower by 3.00% at $6.46.
The acquisition of Sinopower by NaaS Technology's subsidiary Dada Auto is expected to expand the company's capabilities in solar projects and EV charging. However, the stock is trading lower, indicating that investors may be concerned about the acquisition's short-term impact on the company's financials or other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100