China Power New Energy sells $270m new shares
Updated: 2011-01-24 11:15
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.
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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