China Southern Power Grid Energy Storage to Increase Shareholding in Pumped Storage Power Units

MT Newswires Live

08/03

China Southern Power Grid Energy Storage (SHA:600995) is looking to introduce investors into five of its pumped storage power subsidiaries through capital increases and share expansions, according to a Saturday disclosure to the Shanghai Stock Exchange.

The capital increase and share expansion for Qinzhou Storage Power, Guilin Storage Power, Yulin Storage Power, Guigang Storage Power, and Nanning Storage Power will also be prelisted on the Beijing Equity Exchange, the company said in its filing.

Funds raised from the capital increase will go to pumped storage power station construction and capital optimization.

Shares rose 2% during afternoon trading on Monday.

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