China Power International Power (01071) opened nearly 4% higher, and as of the time of publication, rose by 3.92% to HK$3.98, with a turnover of 88.356 million Hong Kong dollars.
According to the WiseNews App, China Power International Power (01071) opened nearly 4% higher, and as of the time of publication, rose by 3.92% to HK$3.98, with a turnover of 88.356 million Hong Kong dollars.
In terms of news, China Power International Power announced that it has recently received a notice from its controlling shareholder, China HuaNeng Group, regarding the planned asset restructuring related to the company. The company plans to purchase 80% equity of HuaDian Jiangsu Energy held by China HuaNeng Group, Shanghai HuaDian FuXin Energy held by Fujian HuaDian FuRui Energy, Shanghai HuaDian Minhang Energy with 100% equity, Guangzhou University City HuaDian New Energy with 55% equity, HuaDian FuXin Guangzhou Energy with 55% equity, HuaDian FuXin Jiangmen Energy with 70% equity, Qingyuan HuaDian FuXin Energy with 100% equity held by China HuaNeng Group. They will also issue A shares to raise supporting funds.
The announcement stated that the company has applied for the suspension of A-share trading from today (19th), with an estimated duration of no more than 10 trading days, but H shares will continue to be traded. China HuaNeng Group is the controlling shareholder of the company, and all other counterparties to the transaction are subsidiaries of China HuaNeng Group, and thus are related parties of the company.