MoFo News Item

China Resources Power Increases Capacity with US$626.4 Million Shares Placement


Hong Kong, October 25, 2007 – Morrison & Foerster advised China Resources Power Company Limited, one of the largest Hong Kong-listed power generation companies in Mainland China, in its top-up share placement that raised approximately US$626.4 million (HK$4.6 billion).   The fully underwritten placement represents approximately 5% of the existing issued share capital and comprises of 200 million shares that sold for a 7.95% discount to their last traded price.  Morgan Stanley & Co. International Plc and Citigroup Global Markets Asia Limited acted as joint placing agents.  The placement was announced on October 5, 2007. 

Morrison & Foerster also represented the company last year in China Resources Power’s US$71.7 million (HK$555.7 million) acquisition of controlling stakes in two PRC power plants that was estimated to increase China Resources Power’s total generation capacity by 13%.

The Morrison & Foerster team was led by Hong Kong Managing Partner, Ven Tan.




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