(MENAFN- ACN NewsWire) HONG KONG, Sept 4, 2023
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(ACN Newswire)
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In response to recent stock price fluctuations, State Power Investment Corporation Limited (SPIC), the major shareholder of China Power International Development Limited (2380.HK) (the "Company"), believing in the prospect and value of the Company, undertook a series of strategic purchases of the Company's shares. Over the past three trading days, SPIC substantially increased its equity holding in the Company by a total of more than 100 million shares, involving a noteworthy investment amount exceeding HK$280 million. This demonstrates SPIC's resolute commitment to stabilizing the Company's share price and safeguarding the interests of shareholders as a whole, as well as its robust confidence in the Company's future.
Recently, the Company has received favourable ratings from prominent financial institutions such as HSBC, Citibank, and Changjiang Securities. Market holds the view that SPIC has a strong desire to build its flagship listing platform. The series of capital transactions in the Company in fact reaffirms the Company's stature as SPIC's flagship stock. With outstanding results made in the first half of the year, the Company's strategies were in place at such a fast rate surpassing market expectations. Therefore, market is highly optimistic about the Company's value appreciation and investment opportunities during the "14th Five-Year Plan" period.
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