Share issue to pay for generator
(Shanghai Daily)
Updated: 2006-08-22 14:44
Singapore-based China EnerSave Ltd has received in-principle approval from
regulators to pay for its purchase of a power plant in China with a new share
issue, the company said in a statement to the Singapore Stock Exchange
yesterday.
The company plans to pay S$45 million (US$28.6 million) for a 51 percent
stake in Yima Jinjiang Energy Comprehensive Utilization Company Ltd, which owns
and operates a 270 megawatt coal-fired power plant in Henan province, the
statement said. China EnerSave will pay for the acquisition by issuing up to 406
million shares at S$0.165 each, the statement said.
China EnerSave is a company that designs, builds and operates renewable
energy plants in Asia.
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