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.
Issue:	Ordinary shares
Amount:	HK$2,365,000, RMB 8,335,000,000
Shares:	2 billion
Price:	HK$4.73 (for 500 million shares), RMB 5.57 (for 1.5 billion share)
Warrants:	No
Investors:	China Hua Neng Group Hong Kong Ltd. (for HK$2.365 billion), China Huaneng Group Co.
Settlement date:	Dec. 28
Stock symbol:	NYSE: HNP
Stock price:	$21.32 at close Dec. 27
Market capitalization:	$6.61 billion

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