Huaneng Lancang River Hydropower completes private placement, raising 5.82bn yuan

Huaneng Lancang River Hydropower announced the completion of its 2024 private placement of A-shares, issuing 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. These newly issued shares are restricted for six months from the completion date and are expected to be listed for trading on the Shanghai Stock Exchange after October 14, 2025.

The offering attracted 10 investors, including Yunnan Rongju Development Investment Co., Ltd. (205,850,487 shares), Yunnan Hehe (Group) Co., Ltd. (145,287,107 shares), and China State-Owned Enterprise Mixed Ownership Reform Fund Co., Ltd. (54,171,180 shares). The capital raised is intended to fund the RM Hydropower Station Project (43.25 million yuan) and the TB Hydropower Station Project (15.00 million yuan).

Following the issuance, Huaneng Lancang River Hydropower's total share capital increased to 18,631,094,257 shares. China Huaneng Group Co., Ltd. remains the controlling shareholder, with its stake adjusting from 50.40% to 48.69%. The company anticipates the placement will enhance its financial strength, optimize its capital structure, and support long-term sustainable development, with no change in control.