Published on 12/29/2010 in the Prospect News PIPE Daily.
Huaneng Power raises HK$2.37 billion, RMB 8.34 billion via stock sales
Coal power producer sells ordinary shares in offerings to 11 investors
By Devika Patel
Knoxville, Tenn., Dec. 28 - Huaneng Power International Inc. said it completed a private placement of stock. It raised A$3.85 million via agent Patersons Securities Ltd. on Dec. 24.
The company sold 500 million ordinary shares to China Hua Neng Group Hong Kong Ltd. at HK$4.73 per share for HK$2.365 billion.
It also sold 1.5 billion shares to 10 investors, including China Huaneng Group Co., at RMB 5.57 per share for RMB 8.335 billion.
Huaneng Power is a Beijing-based independent coal power producer.
Issuer: | Huaneng Power International Inc.
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Issue: | Ordinary shares
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Amount: | HK$2,365,000, RMB 8,335,000,000
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Shares: | 2 billion
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Price: | HK$4.73 (for 500 million shares), RMB 5.57 (for 1.5 billion share)
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Warrants: | No
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Investors: | China Hua Neng Group Hong Kong Ltd. (for HK$2.365 billion), China Huaneng Group Co.
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Settlement date: | Dec. 28
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Stock symbol: | NYSE: HNP
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Stock price: | $21.32 at close Dec. 27
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Market capitalization: | $6.61 billion
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