China Power (02380) said it disposed of 40.17 million shares of Shanghai Electric Power on the open market at the price between Rmb32.4 and Rmb35.17 per share for an aggregated gross sale proceeds of about Rmb1,332 million.
The disposed shares represent around 1.88% of the total issued share capital of Shanghai Power. China Power's interest in Shanghai Power will be reduced from 18.86% of its total issued share capital at present to 16.98% after the disposal.
China Power is expected to recognise an estimated net gain of about Rmb830 million. The proceeds will be used principally for repayment of the Group's existing borrowings, general working capital and other purposes as deemed appropriate by the Board.
27/05/2015 12:16
China Power sells 1.88% stake in Shanghai Electric Power
- 經濟通
- 強化版MQ
- 強化版TQ
- 財曆
- Mobile
Web
