Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

HNP - Huaneng Power International Increases CNY 263 Mn In Capital

|Includes:Huaneng Power International, Inc. (HNP), HUNGF

 

Prepared by ChinaScope Financial | Source: Company Disclosure
  • Huaneng Power International Inc. (00902: HKG) (the company) announced that it has signed a capital increase agreement with the existing shareholders of Hainan Nuclear (including Huaneng Group, Huaneng Power International's parent company), in which the existing shareholders of Hainan Nuclear agreed to subscribe for the new registered capital of Hainan Nuclear according to their respective proportion of shareholding in Hainan Nuclear. In return, Huaneng Power International will pay to Hainan Nuclear no more than CNY 263 million with its own funds. Following the capital increase, the company's shareholding of 30 percent in Hainan Nuclear shall remain unchanged.
  • In addition, Huaneng Group is proposed to transfer 19 percent interest in Hainan Nuclear to another wholly-owned subsidiary, Huaneng Nuclear, and the company will not exercise its pre-emptive right to acquire the 19 percent interest in Hainan Nuclear.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: HNP, HUNGF