BEIJING (AFX-ASIA) – Datang International Power Generation Co Ltd, previously called as Beijing Datang Power Generation Co Ltd (HK 0991), plans to list on the Shanghai stock market before the end of 2005, Zhang Shaopeng, Datang’s PR manager told AFX-Asia.
“But it is just a plan, no substantial work has been done up till now. Therefore, issues such as an exact timetable for the Shanghai listing and how much funds will be raised cannot be decided now,” Mr Zhang added.
“Our board of directors is expected to discuss the planned Shanghai listing at this year’s interim meeting,” the PR manager said, without elaborating on when the meeting will be held.
Beijing Datang Power Generation Co Ltd announced today that it has officially changed its name to Datang International Power Generation Co Ltd, aiming to expand its operations in international markets. It received name change approval from the State Administration of Industry and Commerce on March 15 this year.
Hong Kong-listed Datang International Power posted 1.81 billion yuan in net profit last year, up 29.3% from 1.4 billion yuan a year earlier, largely due to China’s strong demand for electricity. (US$1=8.27).
Core revenue increased to 9.95 bln yuan from 8.02 billion yuan in 2002, while earnings per share rose to 0.35 yuan in 2003, against 0.27 yuan in 2002.
The company develops and operates coal-fired power plants.