https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1023/2024102300099_c.pdf
On the morning of October 23, China Resources Electric Power (00836.HK) announced transactions relating to the placement of new shares under a general mandate and the subscription of new shares under a specific mandate.
Subscription matters: China Resources Electric Power entered into a subscription agreement with Joint Trading Co., Ltd., a wholly-owned subsidiary of China Resources Group, the controlling shareholder. The company plans to allocate and issue 0.168114 billion subscription shares at a subscription price of HK$19.70 per share. The proceeds will be approximately HK$3.312 billion, and the net proceeds will be approximately HK$3.31 billion.
Placement matters: China Resources Power plans to distribute and issue 0.1985 billion of placement shares at an placement price of HK$19.70 per share. The capital will be approximately HK$3.91 billion, and the net proceeds will be approximately HK$3.887 billion.
The net amount raised is expected to be used to increase cash reserves for operating and general corporate purposes, and to repay financial liabilities (including commercial loans and other payables).
The subscription price and allotment price were discounted by about 5.06% compared to HK$20.75 on the last trading day. After the subscription and placement were completed, the subscribed shares were equivalent to about 3.26% of the expanded number of issued shares, and the placed shares were equivalent to about 3.83% of the number of shares issued after expansion.
Bank of America is its exclusive placement agent.
