The state-owned company is looking to use 16.25 billion yuan ($2.6 billion) of the proceeds to build four projects and replenish working capital, according to a draft prospectus posted on the China Securities Regulatory Commission’s website. The plan, which was submitted to the regulator on April 25 for approval, didn’t give a price range or set a fundraising target.
The projects, located in the more developed eastern and southern parts of the country, will help ease an anticipated power shortage and increase the company’s installed capacity by 10.37 million kilowatts, it said.
Source: Reuters
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