Guangdong Electric Power Continues Restructuring Plan


September 6 -- Shares of Guangdong Electric Power Development were suspended from trading today due to asset restructuring, reports, citing a company filing.

Guangdong Electric Power had previously planned to issue 988 million shares to its controlling shareholder Guangdong Yuedian Group to acquire seven power companies from it. The total trade value was 6.039 billion yuan. The plan was rejected by the China Securities Regulatory Commission (CSRC) on July 5.

The company planned to continue the asset reconstructing and will fix its plan based on CSRC’s response.

Guangdong Electric Power’s stocks will be available for trading on October 10, and if the company cannot release the asset reconstructing plan by that time, it will not plan any other big issues over the next three months.



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