Dongfang Electric Seeks HK$1.08 Billion via Share Offering

MT Newswires Live

09/18

Dongfang Electric (HKG:1072, SHA:600875) is seeking over HK$1.08 billion via a share offering, according to a Hong Kong bourse filing Thursday.

The Chinese state-owned manufacturer of power generators is seeking investors for 68 million shares at HK$15.92 apiece to raise funds for general working capital.

The shares represent 20% of the company's existing issued H shares and 2.01% of its total shares, and around 16.67% of H shares and 1.97% of total shares as enlarged by the offering.

CLSA was appointed placing agent for the offering.

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