Huadian Power Applies to Suspend Trading in Shanghai Ahead of Proposed Stake Acquisition Deals; Hong Kong Shares Rise 4%

MT Newswires Live07-19

Huadian Power International (SHA:600027, HKG:1071) applied for a suspension of trading in its Shanghai shares in preparation for its purchase of shares in certain entities, according to a Friday filing with the Hong Kong Stock Exchange.

The power company plans to buy an 80% stake in Jiangsu Huadian Energy, a 51% stake in Shanghai Huadian Fuxin Energy, the entire stake in Shanghai Huadian Minhang Energy, 55% in Guangzhou University City Huadian New Energy, 55% in Huadian Fuxin Guangzhou Energy, 70% in Huadian Fuxin Jiangmen Energy, the whole stake in Huadian Fuxin Qingyuan Energy held by Fujian Huadian Furui Energy Development, and 100% in CHD Guigang Electric Power through the issuance of A shares, the filing said.

Hong Kong shares rose 4% during Friday's morning trading.

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