CGN Power Co., Ltd. announced that it expects to receive CNY 4.9 billion in funding from China General Nuclear Power Corporation and other investors

CGN Power Co., Ltd. announced a private placement of A share convertible corporate bonds for the gross proceeds of CNY 4,900,000,000 on June 21, 2024. The transaction will include participation from returning investor, China General Nuclear Power Corporation may subscribe for A Share Convertible Corporate Bonds with a maximum subscription amount of approximately CNY 3,634,564,500 and other investors. The A share convertible corporate bonds are converted into A shares at the initial conversion price of CNY 4.37 per A share.

The transaction is subject to the approvals of the shareholders at the EGM and the class meetings, the issuance and listing review of the Shenzhen Stock Exchange and the registration with the CSRC. The term of the A Share Convertible Corporate Bonds under the Issuance will be six years from the date of the Issuance.