China Electric Power (02380): Electricity Investment Hydropower (600292.SH) plans to issue approximately 384 million shares to be placed to raise 4.362 billion yuan

Zhitong Finance App News, China Electric Power (02380) announced that on July 16, 2026, Power Investment & Hydropower (600292.SH) announced the issuance results of the proposed placement on the Shanghai Stock Exchange after completing the relevant filing procedures with the Shanghai Stock Exchange. According to the issuance results, a total of approximately 384 million placement shares will be issued to 15 undertakers at an issue price of RMB 11.36 per share, with a total proceeds of approximately RMB 4.362 billion.

The net proceeds from the proposed placement are approximately $4.328 billion. It is intended to: (i) fund the construction of the wind power project in Hunan Province and the Muwangxi pumped storage power plant in Taoyuan County, Hunan Province, and (ii) supplement own funds previously used to meet capital requirements related to asset restructuring (including payment of cash costs, intermediary fees and related taxes).

With the completion of the proposed placement, the company's shares in electricity and hydropower will be diluted from 55.13% to 50.69%. According to section 14.29 of the Listing Rules, the dilution constitutes a deemed sale by the company.

According to the announcement, it is expected that the proposed placement will help Electricity Investment and Hydropower increase equity financing and reduce its dependence on debt financing, thereby reducing its debt ratio and financing costs, expanding its shareholder base, improving financial flexibility, and strengthening its sustainable development capabilities.