SDIC Power Holdings (600886.SH) plans to raise up to 7 billion yuan through a private placement to the Social Security Fund. The issuance price is set at 12.72 yuan per share.

SDIC Power Holdings (600886.SH) disclosed a plan to privately issue A-shares to the National Social Security Fund Council (Social Security Fund) for the fiscal year 2024. The recipients of this issuance are the Social Security Fund, who will subscribe to the company's stock in RMB cash. Based on the proposed number of shares to be issued, after the issuance, the Social Security Fund will become a shareholder owning over 5% of the company's shares, making them a related party and the issuance a related transaction. The issuance price for this offering is 12.72 yuan per share, and the number of shares to be issued is determined by dividing the total fundraising amount by the issuance price, with a proposed issuance of 550,314,465 shares, not exceeding 30% of the company's total shares before the issuance. The proposed fundraising amount for this offering is not more than 7.00 billion yuan, with the net proceeds, after deducting relevant issuance expenses, to be used entirely for clean energy project construction, as follows: 4.5 billion yuan for the Mengdihe Hydropower Station project, and 2.5 billion yuan for the Kara Hydropower Station project.