Powerchina New Energy IPO application accepted by Shanghai Stock Exchange

Power Construction Corp of China announced that the Shanghai Stock Exchange (SSE) has accepted the application for the initial public offering (IPO) and main board listing of its spun-off subsidiary, Powerchina New Energy Group Co., Ltd. The application materials, submitted recently, were deemed complete and in compliance with statutory requirements by the SSE.

This development follows the approval of the spin-off plan by Power Construction Corp of China's shareholders at the first extraordinary general meeting of 2023 on October 17, 2023. The company has previously released detailed announcements regarding the spin-off.

The successful listing remains subject to further review by the Shanghai Stock Exchange and approval for registration by the China Securities Regulatory Commission, indicating that the outcome is not yet certain. Power Construction Corp of China commits to timely disclosure of information in accordance with regulatory requirements as the IPO process progresses.