CGN Power Co (HK:1816) has released an update.
CGN Power Co., Ltd. announces a proposal to issue A Share Convertible Corporate Bonds worth up to RMB4.9 billion to non-specific investors, subject to shareholder and regulatory approval. The company’s controlling shareholder, CGNPC, may subscribe to a significant portion of the bonds, which would be a connected transaction requiring independent shareholder approval. The company assures compliance with public float requirements and readies for an Extraordinary General Meeting and Class Meetings to discuss the proposal.
For further insights into HK:1816 stock, check out TipRanks’ Stock Analysis page.
