Business
Energy
China Power New Energy sells $270m new shares
Updated: 2011-01-24 11:15
(Agencies)
China Power New Energy Development Co Ltd said it planned to sell 2.8 billion new shares to China Yangtze Power Co, raising HK$2.1 billion ($270 million) to fund its investment in power generating projects.
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Shareholding of its current major shareholder China Power New Energy Ltd will be diluted to 25.93 percent after the deal from 35.14 percent, the company said.
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