SPIC Dongfang nears asset swap, share issuance for power firm

SPIC Dongfang New Energy Corp (SZSE:000958) is advancing a significant transaction that includes the replacement of major assets and the issuance of shares for the purchase of assets from State Power Investment Corporation Industrial and Financial Holdings Co., Ltd. The deal also involves fundraising to support these transactions, reflecting a strategic move to optimize the energy portfolio and inject new assets. Independent financial advisory report of BOCI Securities Co., Ltd. confirms the validity and due process of the proposed actions. The comprehensive nature of the asset shuffle involves 11 related announcements including audit report, an asset evaluation report and legal opinions by Zhong Lun Law Firm for this major deal and for the exclusion of issuing a takeover proposal.