Ming Shing Group Holdings Ltd. (NASDAQ:MSW) shares surged 203.62% to $4.01 in after-hours trading Tuesday after the Hong Kong-based construction firm announced the closing of its $110 million acquisition of PMA Nano Carbon Tech Limited.
Construction Firm’s Pivot Into Graphene Thermal Solutions
PMA Nano Carbon Tech is a Singapore-based developer of graphene-based thermal management and heating solutions. It specializes in thin, lightweight heat-spreading components that use graphene's high thermal conductivity. This is a fast-growing segment in electronics and industrial applications.
The deal, first announced on May 26, was fully financed through unsecured convertible promissory notes, which were issued to the three sellers of PMA's entire issued share capital, PMA Technology Holdings Limited, Legend Master Development Limited and F.F. Formation Holding Co. Ltd.
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