Longyuan Power (00916.HK) plans to raise no more than 5 billion yuan through an A-share private placement.

Zhtng Cijng APP news, Longyuan Power (00916.HK) announced that the board of directors proposed to issue A shares to no more than 35 specific objects (including the number) based on the general authorization to issue shares. The number of shares issued this time will not exceed about 2.508 billion shares, and the total amount of funds raised will not exceed RMB 5.0 billion (including the number). The net proceeds from the fundraising are planned to be used for investment in the 500 MW offshore wind power project at the Hainan Eastern CZ8 site and the 1,000 MW wind power project at the "Ningxiang DC" supporting new energy base Shapotou.