Leshan Electric secures $28M in share offering

Leshan Electric Power Co., Ltd. has successfully completed a share offering to specific investors via simplified procedures, raising a total of ¥199,999,996.59 (approximately $28 million USD). The offering involved the issuance of 39,920,159 shares at a price of ¥5.01 per share. China Galaxy Securities acted as the lead underwriter for the deal. The funds have been verified as received in the designated account at China Minsheng Bank, Beijing Muxidi Branch, as of February 6, 2025. Proceeds will be used to improve the company's finances. This strategic move signifies Leshan Electric's commitment to strengthening its financial position within the energy sector.