Leshan Electric Power's private placement gets regulatory green light

Leshan Electric Power (SSE: 600644) has received the necessary approvals for its 2024 private placement of A shares, according to a legal opinion issued by Beijing JunZeJun Law Firm. The Shanghai Stock Exchange had previously approved the application, followed by the China Securities Regulatory Commission (CSRC)'s registration approval. The company finalized its placement, offering 39,920,159 shares at a price of 5.01 yuan per share, raising a total of 199,999,996.59 yuan before expenses. Nine investors participated in the offering, including fund management companies like China Universal Asset Management and Nordea Fund Management, as well as institutional investors. Proceeds will be directed towards projects outlined in the company's filings. The law firm confirmed the offering process complied with relevant regulations and that participating investors met eligibility requirements.