Huaneng Renewables raises USD 200m from share issue
Oct 22, 2013 - Chinese wind farm operator Huaneng Renewables Corp Ltd (HKG:0958) said yesterday it had completed the sale of 582.3 million shares, raising HKD 1.55 billion (USD 200m/EUR 146m) in net proceeds.
When announcing the issue on October 15, the company said that it will use the raised amount for general corporate needs. The shares were listed on the Hong Kong Stock Exchange.
Huaneng Renewables sold 582.3 million shares at HKD 2.71 apiece, which is a discount of 7.5% on the closing price of its stock on October 11. The issue represented nearly 6.4% of the total issued shares of the firm and about 16.7% of Huaneng Renewables’ enlarged Hong Kong share capital.
After the placement the total number of Huaneng issued shares increased to over 9 billion from 8.5 billion shares.
Credit Suisse Hong Kong Ltd acted as bookrunner of the deal.