BJ ENERGY INTL (00686) intends to subscribe for approximately 6.6% equity interest in the listed Australian company Highfield Resources.

BJ ENERGY INTL (00686) announced that it has entered into a share subscription agreement with the target company Highfield Resources Limited on September 23, 2024. The company intends to subscribe for approximately 6.6% of the target company's issued share capital after the issuance of subscription shares. The subscription price for each share is 0.5 Australian dollars. Highfield Resources Limited is a limited liability company registered in Australia, with its shares listed on the Australian Stock Exchange (ASX code: HFR). The target company is primarily engaged in mineral exploration and potassium fertilizer mining in Spain, including advancing its core project, the Muga project. The board believes that the subscription is in line with the group's investment strategy. It will further enhance the group's presence in Spain and in the fields of mining, high-end chemicals, power, new energy materials, and high-end equipment manufacturing. The group sees the subscription as a unique opportunity to expand its business into attractive sectors and achieve synergies with its existing operations.