[ET Net News Agency, 10 October 2018] Harbin Electric Company (01133) said it has
agreed to subscribe for 76.34 million shares in Huaneng Power International
(HPI)(00902)(Shanghai code: 600011) A-shares at RMB6.55 per share, with the total amount
of RMB500 million.
Harbin said HPI maintains a sound operation, the subscription facilitates the long-term
strategic relationship between the company and HPI, and allows both parties to jointly
establish a premium power plant and pursue win-win cooperation.
Harbin undertakes that it will not transfer the A shares of HPI within 12 months after
the issuance is closed. (KL)