Stock Track | China Resources Power Tumbles After $500M Share Placement Announcement

Stock Track

Oct 23, 2024

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.

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Ltd. plummeted over 5% in Hong Kong trading on Wednesday after the company announced plans to raise around $500 million through a share placement.</p>\n\n<p>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.</p>\n\n<p>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.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00836","symbol_name":"华润电力","start_time":0,"source_url":"","article_id":"1108112515","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1108112515","pubTimestamp":1729647047,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"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 aro","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00836":"华润电力"},"translate_title":"华润电力宣布5亿美元配股后股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00836":1},"content_text":"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.\nThe 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.\nChina 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. 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