Shares of China Resources Power Holdings Co. Ltd. plummeted over 5% in Hong Kong trading on Wednesday after the company announced plans to raise around $500 million through a share placement.
The Hong Kong-listed power plant operator said it will issue 198.5 million new shares, representing over 4% of its total share capital, at a price of HK$19.70 per share. The placing price is at a 5.1% discount to the stock's last closing price of HK$20.75 on October 22.
China Resources Power aims to raise around HK$3.89 billion ($500.5 million) through the share placement, with the proceeds intended to repay debt and fund general corporate purposes. The company also plans to issue an additional 168.1 million shares worth HK$3.31 billion to its controlling shareholder, China Resources (Holdings) Co. Ltd.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。