Finance: Shenergy to issue shares
(Shenzhen Daily)
Updated: 2006-05-22 14:00
Shenergy Co. said it had received regulatory approval to issue up to 200
million additional shares for potential acquisitions and to boost generating
capacity.
The Shanghai-based power supplier will become one of the first listed
companies given the nod by the China Securities Regulatory Commission (CSRC) to
raise capital after the lifting of a one-year freeze on stock sales.
Shenergy, also a major power investment company, said Friday it plans to
raise 1.2 billion yuan (US$149.8 million) by selling no more than 200 million
additional shares, according to a filing to the Shanghai Stock
Exchange.
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