SPIC Industry-Finance to Acquire SPIC Nuclear Power Through Restructuring; Shares Jump 10%

MT Newswires Live10-22

SPIC Industry-Finance (SHE:000958) plans to restructure into a nuclear energy asset operator by acquiring 100% of SPIC Nuclear Power, according to a Shenzhen Stock Exchange filing on Oct. 18.

The Chinese heat and electricity supply services provider will exchange its 100% holdings in SPIC Capital Holdings for SPIC Nuclear Power's stake.

The company will issue new shares to State Nuclear Power Technology and China Life Insurance (HKG:2628, SHA:601628). Each share was priced at 3.53 yuan. The final number of shares is yet to be determined, the filing said.

Shares of the company jumped 10% in recent trade.

Price (HKD): $4.95, Change: $+0.45, Percent Change: +10.00%

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