Huaneng Lancang Hydropower revises plan for targeted A-share issuance

Huaneng Lancang River Hydropower (SSE:600025) has announced revisions to its 2024 plan for issuing A-shares to specific targets, primarily decreasing the fundraising target. The revisions, approved by the board and shareholders, come after consideration of regulatory feedback and evolving market conditions. The company now plans to raise a maximum of CNY 5.825 billion, a reduction from the previous target, with adjustments made to the allocation of funds towards projects. Specifically, the RM Hydropower Station project allocation has been reduced by CNY 175 million. These adjustments aim to enhance capital efficiency.