CGN Power plans convertible bond offering on Main Board

CGN Power (SZSE:003816) plans to issue A-share convertible corporate bonds to unspecified investors, with the aim of listing on the main board. The offering, detailed in a registration draft, specifies the use of proceeds for the Guangdong Lufeng Nuclear Power Plant project phases 5 and 6. While the total amount to be raised is yet to be determined, CGN Power highlighted potential risks including policy changes, construction uncertainties, and fluctuations in fuel costs. The bond’s credit rating has been assessed as AAA by China Chengxin International. The announcement states adherence to information disclosure and regulatory compliance throughout the process. In February, concerns around potential changes in business or operations, litigation risk, and taxation risk were disclosed, and measures taken to mitigate these. The statement also touches on corporate structure, share ownership and dividend policy.