BIZCHINA / Overseas Investment
Share issue to pay for generator
(Shanghai Daily)
Updated: 2006-08-22 14:44
Singapore-based China EnerSave Ltd has received in-principle approval
from regulators to pay for its purchase of a power plant in China with a
new share issue, the company said in a statement to the Singapore Stock
Exchange yesterday.
The company plans to pay S$45 million (US$28.6 million) for a 51 percent
stake in Yima Jinjiang Energy Comprehensive Utilization Company Ltd,
which owns and operates a 270 megawatt coal-fired power plant in Henan
province, the statement said. China EnerSave will pay for the acquisition
by issuing up to 406 million shares at S$0.165 each, the statement said.
China EnerSave is a company that designs, builds and operates renewable
energy plants in Asia.
(For more biz stories, please visit Industry Updates)
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