Beijing Jingneng Sells 40% Stake in Australian Arm

Beijing Jingneng Clean Energy Co., Ltd. Class H (HK:0579) has released an update.

Beijing Jingneng Clean Energy Co., Ltd. has announced the sale of a 40% stake in its Australian subsidiary for approximately AUD183 million, subject to additional adjustments. The deal with BJEI Australia, which is a connected transaction due to shared control, will still see the financial results of BJCE Australia consolidated into Beijing Jingneng’s financial statements. This strategic move requires independent shareholder approval and complies with the reporting and announcement mandates of the Hong Kong Listing Rules.

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