BEIJING, Dec. 28, 2010 /PRNewswire-Asia/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) is pleased to announce that it has completed the non-public issuance of 500 million overseas listed ordinary shares with par value of RMB1 each ("H Shares"). The 500 million H Shares were subscribed by China Hua Neng Group Hong Kong Limited ("Hua Neng HK") at the subscription price of HK$4.73 per Share on December 28, 2010.
The Company has also completed the non-public issuance of 1,500 million RMB-denominated ordinary shares ("A Shares"). The 1,500 million A Shares were subscribed by ten designated investors including China Huaneng Group Company ("Huaneng Group") at the subscription price of RMB5.57 per share on December 23, 2010. The shares subscribed by Huaneng Group are subject to a lock-up period of 36 months from date of their issuance, and thus their listing is expected to take place on December 23, 2013. The shares subscribed by other designated investors are subject to a lock-up period of 12 months, and thus their listing is expected to take place on December 23, 2011.
Upon completion of the non-public issuance of A Shares and H Shares described above, the Company's shareholding structure is changed as follows:
number of shares
number of shares
Huaneng International Power
Development Corporation (Note)
Huaneng Group (Note)
Hua Neng HK (Note)
- A Shares
- H Shares
Note: Huaneng Group is the controlling shareholder of Huaneng International Power Development Corporation ("HIPDC") holding a 51.98% direct interest and a 5% indirect interest in HIPDC; Hua Neng HK is the wholly-owned subsidiary of Huaneng Group.
For details of the non-public issuance of the A Shares and H Shares described above, please refer to the announcements made by the Company on the websites of Shanghai Stock Exchange (www.sse.com.cn) and the Stock Exchange of Hong Kong Limited (www.hkex.com.hk).
About the Company
The Company is one of China's largest listed power producers with controlled generation capacity of 50,033 MW and equity-based generation capacity of 46,512MW. The power plants of the Company are located in 17 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.
About Huaneng Group
Huaneng Group is the controlling shareholder of Huaneng International Power Development Corporation ("HIPDC") holding a 51.98% direct interest and a 5% indirect interest in HIPDC; Hua Neng HK is the wholly-owned subsidiary of Huaneng Group.At the same time, Huaneng Group holds an aggregate of 14.76% direct and indirect interest in the issued shares of the Company. As of the date of this press release, HIPDC is the controlling shareholder of the Company, holding 36.05% of the issued shares of the Company.
About Hua Neng HK
Hua Neng HK is a wholly owned subsidiary of Huaneng Group and is principally engaged in investment, construction, management, development and holding of power plants and other energy related projects.
For enquiries, please contact:
Huaneng Power International, Inc
Ms. MENG Jing / Ms. ZHAO Lin
Tel: +86-10-6608-6765 / +86-10-6322-6596
Wonderful Sky Financial Group Limited
Ms. Katy CHAN / Ms. Kate CHAN / Ms. Olive ZHANG
Tel: +852-3970-2119 / +852-3970-2153 / +852-3970-2180
SOURCE Huaneng Power International, Inc.