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BUZZ-China Shenhua slips on buying key shareholder assets, discounted share sale

Reuters
Yesterday
BUZZ-<a href="https://laohu8.com/S/CSUAY">China Shenhua</a> slips on buying key shareholder assets, discounted share sale

** Hong Kong shares of China Shenhua Energy 1088.HK slip 2.7% to HK$38.6 after three straight sessions of gains, on track for the biggest one-day pct fall since December 8

** Shanghai-listed stock 601088.SS eases 1.4% to 40.03 yuan, on course for the biggest one-day pct drop since December 8

** Co says it plans to buy 10 firms and stakes in another two from controlling shareholder and its unit for a total of 133.6 bln yuan ($18.97 bln), in a deal to be settled by issue of new A shares and in cash

** Co also plans to sell A shares at 29.40 yuan per share in a share placement, raising up to 20 bln yuan. That represents a 27.6% discount to Friday's close of 40.59 yuan per share

** YTD, Hong Kong stock up 16.9%, while Shanghai-listed shares down 7.2%

($1 = 7.0404 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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