Huaneng Lancang River Hydropower completes targeted A-share issuance, raising 5.8bn yuan

Huaneng Lancang River Hydropower Company Limited successfully completed its 2024 targeted A-share issuance, distributing 631,094,257 shares at a price of 9.23 yuan per share. Total proceeds amounted to 5,824,999,992.11 yuan, with net proceeds of 5,803,125,714.35 yuan after deducting issuance expenses of 21,874,277.76 yuan. This capital injection is intended to enhance the company's financial strength and support its main business operations, including the RM Hydropower Station project.

The issuance was approved by the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange. Ten investors participated, including Yunnan Rongju Development Investment Co., Ltd. and China State-owned Enterprises Mixed Ownership Reform Fund Co., Ltd., with all shares subject to a six-month lock-up period.

The transaction strengthens the company's equity structure, increasing its registered capital to 18,631,094,257.00 yuan. The issuance is not expected to alter the company's controlling shareholder or corporate governance structure.