Ni Hsin in solar power deal with Helios

PETALING JAYA: Stainless steel cookware Ni Hsin Resources Bhd, which is diversifying into the solar energy industry, has proposed to acquire the entire issued and paid-up share capital of Helios Photovoltaic Sdn Bhd by issuing new Ni Hsin shares at 38 sen apiece.

Ni Hsin, which has signed a heads of agreement on the matter with Helios, will be carrying out a due diligence exercise and will decide the value of the purchase later.