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

Fiscal Period 9/30/2012 6/30/2012 3/31/2012 12/31/2011 9/30/2011
Total Revenue 14,085 13,843 12,858 14,187 12,669
Cost of Revenue 10,957 11,119 10,913 12,297 10,585
Operating Income 1,811 1,349 558 1,814 1,278

Source: Filings

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