CGN Power (HKG:1816, SHE:003816) will raise net proceeds worth around 4.90 billion yuan from the issuance of convertible bonds, according to a Shenzhen bourse filing on Wednesday.

The convertible bonds will mature July 8, 2031.

The proceeds will be used to fund units 5 and 6 of the Guangdong Lufeng nuclear power plant, the filing said.

Both the Hong Kong and Shenzhen shares of the power company rose 1% during morning trade.