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02380 CHINA POWER
RTNominal unchange3.400 0.000 (0.000%)
Others

09/11/2017 08:40

China Power to raise HK$4.4bn from 1-for-3 rights issue

[ET Net News Agency, 9 November 2017] China Power International Development (02380)
said it proposes to raise about HK$4,462 million to HK$4,469 million through a rights
issue on the basis of one rights share for every three existing shares held at HK$1.82 per
rights share.
The subscription price represents a discount of about 27.5% to the closing price of
HK$2.51.
Without taking into account the set-off arrangements, the estimated net proceeds will be
about HK$4,410 million to HK$4,417 million. The funds raised from the proposed rights
issue will be used to finance the consideration for the proposed acquisitions of certain
clean energy power companies from ultimate controlling company State Power Investment
Corporation. (HL)

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