2010-07-27 10:47

China listed power firm Huaneng Power International lowered prices for its planned private placement of shares in Shanghai and Hong Kong but left its fundraising target basically unchanged.

Huaneng said it now plans to sell up to 1.5 billion yuan ($221.43 million)-denominated A shares to select institutional investors at no less than 5.57 yuan each, and would sell as many as 500 million Hong Kong-listed H shares at HK$4.73 (61 cents) apiece.

The company said in January that it would issue 1.2 billion A-shares at not less than 7.13 yuan each and 400 million H-shares at about HK$4.97, seeking to raise up to $1.5 billion to help finance its clean energy projects, lift capacity and repay debt.