Huaneng Power International (HK:0902) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Huaneng Power International has formed a joint venture with Huaneng Hydropower, creating Yuwang Company with a combined investment of over RMB2.96 billion. Huaneng Power will hold a 51% stake, while Huaneng Hydropower will control 49%, as part of a strategic move to expand in the power sector. This connected transaction aligns with Hong Kong Listing Rules, requiring reporting and announcement but exempting independent shareholder approval.
For further insights into HK:0902 stock, check out TipRanks’ Stock Analysis page.