Shanghai Electric seeks $1.47b for diversification
Shanghai Electric is reportedly looking to raise RMB9.5 billion ($1.47 billion) through a private share placement that will help the company diversify is business into other areas of the energy sector. As part of the raise, China Power Investment Group will buy at least RMB$2.5 billion worth of shares that will further enable Shanghai Electric to purchase assets from China Power Investment.
According to Reuters, the funds will be used to acquire nuclear power assets from China Power Investment, which is touted as one of the country's top power entities. The company specifically looks to issue...
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