Shanghai Electric Power plans to raise RMB 1.35 billion through a listing on
China's stock exchanges, using the proceeds to invest in three power
plants.
The listing comes soon after the Three Gorges Project was forced
to delay its RMB 10 billion listing because of regulatory fears that such a huge issue would
further dampen the already weak A-share market.
Proceeds from the
listing will be used to upgrade a power plant in Waigoaqiao development zone, partly fund
a steam and power project in Shanghai Petrochemical Park and build a natural-gas fired
plant.