Power Assets Holdings Limited's stock surged 5.66% during intraday trading on Wednesday, following the company's announcement of a major asset disposal plan.

The Hong Kong-listed utility has called a shareholder meeting to vote on the disposal of its subsidiary's stake in UK Power Networks to buyer Engie UK 2026 for a base consideration of GBP 4.2 billion. The transaction, outlined in a Share Purchase Agreement dated February 25, 2026, represents a significant corporate action that investors appear to view favorably.

Shareholders will convene on April 27, 2026, to approve the connected and major transactions, which include the disposal of PAH Sub's sale shares and shareholder debt instruments related to UK Power Networks. The resolution also seeks authorization for directors to execute all necessary documents and actions to implement the transaction.