Changjian reduced the holding capacity of 2.3 billion

Power Industry (00006) announced yesterday that its parent company, Changjiang Infrastructure (01038), entered into a placing agreement to sell 43.8 million shares of electricity, with a share price of 52.93 yuan per share, and cash out of about 2.32 billion yuan.

According to the announcement, Changjian has entered into a placing agreement with the Placing Agent, which is intended to place a total of 43.8 million shares of electricity, representing approximately 2.05% of the issued share capital of Power, with a Placing Price of $52.93, a 4.7% discount to the closing price of Electrical Energy on Wednesday. Upon completion of the Placing, Changjian will hold approximately 35.96% of the shares of the Energy, and the expected placement will be completed next Monday (14th).

Chang Jianbao Holdings status only needs to hold 30.1%

Ye Jiexian, an analyst at Daiwa Capital Markets, believes that power has become a long-term “cash machine”. I believe that in the future, as long as there is a need for funds, Changjian will have the opportunity to sell electricity and hold shares, disguising the space for energy stock prices to maintain energy. Reduce the rating. “Changjian should maintain the status of controlling shareholder of electric energy and hold at least 30.1% of the shares. Therefore, for Changjian, whether it is holding 35.96% or 38% of the shares, it is not big, and the stock is a reasonable move.”

Energy reduced by 72% at the end of June, only about 3.4 billion

After the three special dividends were distributed, the bank deposits and cash were reduced by 72.5%. As of the end of June, a total of 6.987 billion yuan was held. After deducting the debts, the net cash was only about 3.415 billion yuan. The market generally believes that it is unlikely that electricity will be distributed in the future. If there is no large-scale mergers and acquisitions in the future, the stock price will have limited momentum.

Affected by the news of the long-term construction, the power fell 2.1% yesterday, closing at 54.4 yuan, the transaction surged to 2.65 billion yuan; Changjian rose 0.7% to close at 60.9 yuan.