China Yangtze Power, which operates the Three Gorges Dam, has promised to limit shares sales, saying its parent will retain control for 10 years, the Standard of Hong Kong reported Friday, citing company documents and analysts. At least 55% of its publicly traded unit will be held until 2015 by China Yangtze Three Gorges Project Development, according to an email to shareholders. The parent company also will give free stock and warrants, while it plans to raise dividends. China Yangtze is among 46 companies selected by the state in its plan to reduce about US$250bn in state holdings.
Categories