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sdic power: plans to raise no more than 7 billion yuan from the social security fund

on the 17th, guodian power announced that the company plans to issue 550 million a shares to the national council for social security fund (hereinafter referred to as the "social security fund") at an issue price of 12.72 yuan per share. the transaction amount will not exceed 7 billion yuan, and the issuance quantity will not exceed 30% of the total share capital of the listed company before the issuance. the social security fund intends to subscribe for the company's a shares issued in full in cash.

the announcement stated that the issuance intends to raise no more than rmb 7 billion, and the net amount of funds raised after deducting relevant issuance expenses will be used entirely for the construction of clean energy projects, as follows: digou hydropower station project and kala hydropower station project.

after the completion of this issuance, the social security fund will hold 550 million shares of the company, accounting for 6.88% of the shares.

the announcement stated that this issuance to the social security fund for specific objects is a pioneering practice in implementing the "decision of the cpc central committee on further comprehensively deepening reforms and promoting chinese-style modernization" of the third plenary session of the 20th cpc central committee on supporting the entry of medium- and long-term funds into the market, and is also an important measure to implement the state council's requirements for improving the quality of listed companies. through this issuance, listed companies will introduce the social security fund as a strategic investor and give full play to its advantages in long-term funds and patient capital, which will play a leading and exemplary role in improving the inherent stability of the capital market and boosting investor confidence; at the same time, the funds raised this time will be used entirely for the investment, development, construction and operation of clean energy projects, which is a concrete manifestation of actively responding to the country's "dual carbon" goals, and is of great significance to improving the current financial tension of listed companies and promoting the rapid development of their main businesses.

the latest data shows that the share price of guodian power is 15.41 yuan per share, while the price of the social security fund's private placement is 12.72 yuan per share, a discount of about 20%.

the social security fund has just subscribed 12 billion yuan to build nuclear power

on the evening of july 11, china national nuclear corporation announced the plan to issue a-shares to specific objects in 2024, intending to issue stocks to specific objects to raise no more than 14 billion yuan, and all the funds raised will be used for nuclear power project construction. the fundraising targets are the social security fund and the controlling shareholder china national nuclear corporation, of which the social security fund subscribed 12 billion yuan and china national nuclear corporation subscribed 2 billion yuan.

this is the first time that the national social security fund council has participated in a private placement of a listed company as a strategic investor. this issuance is expected to become a model for the coordinated development of the social security fund and my country's nuclear industry and their joint service to the national strategy.

according to the announcement of the private placement, the issue price of this private placement is 8.52 yuan per share. the pricing base date is the announcement date of the resolution of the 22nd meeting of the fourth board of directors of the company, which is july 11. the issue price is 80% of the average trading price of the company's a-shares in the 20 trading days before the pricing base date. the number of a-shares issued is approximately 1.643 billion shares, and there is a 36-month lock-up period for subscriptions.

after the private placement, cnnc and its affiliates' shareholdings in china national nuclear corporation fell from 59.76% to 56.12%. the national social security fund's shareholdings were 6.86%, making it the company's second largest shareholder with a shareholding of more than 5%. it will send a non-independent director to china national nuclear corporation.

according to the plan for the private placement, china national nuclear corporation plans to raise no more than 14 billion yuan to be used for the unit 1 and 2 projects of the xudabao nuclear power plant in liaoning, the unit 3 and 4 projects of the xudabao nuclear power plant in liaoning, the unit 3 and 4 projects of the zhangzhou nuclear power plant in fujian, and the unit 7 and 8 projects of the tianwan nuclear power plant in jiangsu.

the company said that it expects the installed capacity of nuclear power in operation to increase further from 2024 to 2030. however, the growth of installed capacity requires financial support, and the company will face a large funding gap. it needs to provide strong financial support for the implementation of the investment plan through this financing as soon as possible.

after china national nuclear power introduces the social security fund as a strategic investor in this issuance, the social security fund will become the second largest shareholder of china national nuclear power and will nominate non-independent director candidates to china national nuclear power. by sending directors to closely track the business development of china national nuclear power, it will bring new strength to china national nuclear power's corporate governance and business development.