Huaneng Power International (HK:0902) has released an update.
Huaneng Power International has approved the acquisition of a 30% equity interest in Baxianjiao Company for no more than RMB 582.2 million, in a deal that also involves the purchase of a 69.99% stake by the newly established Partnership. As part of the groundwork for securitizing certain infrastructure assets through an Asset-backed Securities (ABS) scheme on the Shanghai Stock Exchange, this move is part of a larger strategy that includes the issuance of ABS and subsequent investment in Baxianjiao and Dafeng Companies. The transaction is deemed a connected transaction under the Hong Kong Listing Rules but does not require independent shareholder approval.
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