Datang International Power Generation (SHA:601991, HKG:0991) is looking to raise up to 8 billion yuan from the issuance of up to 2.67 billion shares to up to 35 investors through a private placement of shares, according to a Saturday disclosure to the Shanghai bourse.

Controlling shareholder Datang Group committed to purchasing 20% of the total shares on offer for up to 1.60 billion yuan.

Proceeds will help fund the expansion of the Datang Fuzhou and Datang Lusi Port expansion projects, as well as the Datang Chaozhou Power Plant, Taizhou Toumen Port Power Plant Project, and for working capital.