POWERCHINA recently successfully completed the non-public issuance of its A shares, raising 13.396 billion yuan ($1.99 billion) in funds.
A total of 2,080,124,211 shares at a price of 6.44 yuan per share were issued. It is the biggest bidding, fixed-increment issuance in the construction industry in the A-share market so far.
It is also the largest private placement issued by Central government-controlled enterprises in the A-share market since the new refinancing regulations were promulgated on Feb 14, 2020.
As a global leader in clean and low-carbon energy, water resources and environmental construction, POWERCHINA is a backbone of global infrastructure interconnections and a leading enterprise serving the Belt and Road Initiative construction.
It has integrated investment, construction and operations, helping to promote global development.
The funds will be invested in such fields as pumped storage, offshore wind power and other key projects.
This will further help the company optimize its resource allocations, broaden financing channels, and accelerate its strategic transformation and upgrading centered on the new energy and pumped storage businesses.
