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Youngor to invest USD 13.8m in Qianyuan Power stock

(ADPnews) - Jan 12, 2011 - Chinese clothing and textile maker Youngor Group Co (SHA:600177) said it will spend CNY 91.1 million (USD 13.8m/EUR 11m) to buy 5.34 million shares in hydropower plants operator Guizhou Qianyuan Power Co LTD (SHE:002039).

The amount represents 2.62% of a private placement launched by the hydropower group. The stock has been priced at CNY 17.05 apiece.

Guizhou Qianyuan Power owns three hydroelectric stations in the province of Guizhou, southern China.

(CNY 1 = USD 0.151/EUR 0.116)

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