Business
        

Energy

China Power New Energy sells $270m new shares

Updated: 2011-01-24 11:15

(Agencies)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

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.

Related readings:
China Power New Energy sells $270m new shares China Three Gorges buys more into China Yangtze Power

In a filing with the Hong Kong bourse over the weekend, China Power New Energy said it would issue the new shares at HK$0.75 each to China Yangtze Power, which would hold 26.2 percent of the enlarged share capital on completion of the deal.

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.

E-paper

Ear We Go

China and the world set to embrace the merciful, peaceful year of rabbit

Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order

European Edition

Specials

Mysteries written in blood

Historical records and Caucasian features of locals suggest link with Roman Empire.

Winning Charm

Coastal Yantai banks on little things that matter to grow

New rules to hit property market

The State Council launched a new round of measures to rein in property prices.

Top 10 of 2010
China Daily in Europe
The Confucius connection