CGN Power Co. Proposes Convertible Bond Issuance

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.

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