China's CGN up on convertible bond issue plan for nuclear power station project

CGN Power

24/06/2024 06:56

** Hong Kong shares of CGN Power Co Ltd  1816.HK  climb 3.3%
to HK$3.45, their highest since June 14
    ** Shenzhen stock  003816.SZ  rise 3% to 4.48 yuan, highest
since June 14
    ** Chinese electricity producer says it plans to issue up to
4.9 bln yuan ($674.8 mln) worth of bonds convertible into the
company's A shares
    ** Says proceeds will be used to fund investment in
Guangdong Lufeng Nuclear Power Station project
    ** In Hong Kong, Hang Seng Composite Index tracking energy
stocks  .HSCIE  eases 0.9% and Hang Seng Index  .HSI  slips 0.8%
    ** In China, the blue-chip CSI 300 Index  .CSI300  slips
0.1% and Shanghai Composite Index  .SSEC  down 0.6%
    ** YTD, Hong Kong-listed stock up 65.2%, Shenzhen shares
42.8% higher


($1 = 7.2615 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))