China’s NSSF Buys Private Placement Shares in GD Power Development Co Ltd
China’s National Social Security Fund (NSSF) will purchase 2 billion yuan (US$ 317.98 million) worth of A shares of common stock in GD Power Development Co Ltd in a private placement. The NSSF will purchase 50% of the company’s newly issued shares.
The NSSF will have a 5.32% stake in the company, allowing the NSSF to be the number two shareholder.
The NSSF plans to hold the shares for at least three years. GD Power is one of China’s big five energy firms.
Revenue Figures for GD Power Development Co., LTD
in Million yuan
|Cost of Revenue||10,957||11,119||10,913||12,297||10,585|