China Southern Power Grid Energy Storage to Increase Shareholding in Pumped Storage Power Units
MT Newswires Live
Aug 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.