China Resources Power Holding to raise $500 mln via share placement (updated)

China Resources Power Holdings

23/10/2024 02:17

(Adds details in paragraphs 2-5)
       Oct 23 (Reuters) - 
    Hong Kong-listed China Resources Power Holding  0836.HK 
said on Wednesday it was planning to raise HK$3.89 billion
($500.50 million) via share placement to repay its debt and for
corporate management purposes.
    The power plant operator will place 198.5 million shares,
representing more than 4% of its total share capital, at a price
of HK$19.70 per share. 
    The placing price is at a discount of 5.1% to the stock's
last closing price of HK$20.75 on Oct. 22.
    In a separate deal, the company said it will issue 168.1
million shares to its controlling shareholder China Resources
(Holdings) under a subscription agreement for HK$3.31 billion. 
    The placement, which is conditional on approval from listing
committee among others, will enable the company to optimise its
capital structure and support future growth, China Resources
Power said.
        
  
($1 = 7.7722 Hong Kong dollars)

 (Reporting by John Biju in Bengaluru; Editing by Rashmi Aich)
 ((John.Biju@thomsonreuters.com;))