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HUANENG POWER TO LIST SHARES ON SHANGHAI BOURSE.
(Full text of a statement. Contact details below.)
BEIJING, Nov. 30 PRNewswire Asia-AsiaNet - Huaneng Power International, Inc. (NYSE: HNP) (HKEx: 902) (the "Company") today announced that Shanghai Stock Exchange has granted approval to its listing of 250,000,000 A Shares on the Shanghai Stock Exchange on December 6, 2001.
The stock name is "Huaneng International" and the stock code is 600011. The company will publish the formal listing notice in PRC newspapers on December 1, 2001.
The A Shares issued to strategic investors and securities investment funds will be subject to the following lock-up periods:
Strategic investors: 6 months from the date of listing
Securities investment funds: 3 months from the date of listing
In addition, the 100,000,000 A Shares placed to Huaneng International Power Development Corporation ("HIPDC") will not be tradable until there are new regulations introduced by the state regarding the transferability of state-owned shares and legal person shares.
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