Huaneng Power International Announces Infrastructure REIT Application

The latest update is out from Huaneng Power International ( (HK:0902) ).

Huaneng Power International, Inc. has announced its plan to apply for the public offering and listing of an infrastructure real estate investment trust (REIT) on the Shanghai Stock Exchange. This move involves the establishment of a project company to manage assets including the Huaneng Dongjiakou 2 350 MW Thermal Power Cogeneration Project and related facilities. The strategic placement will see Qingdao Company, a subsidiary, subscribe to 51% of the infrastructure REIT, allowing Huaneng Power to maintain control over the assets, which could strengthen its market position and attract investment in its infrastructure projects.

The most recent analyst rating on (HK:0902) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on Huaneng Power International stock, see the HK:0902 Stock Forecast page.

More about Huaneng Power International

Huaneng Power International, Inc. is a major player in the energy sector, primarily focusing on the generation and sale of electricity and heat. The company operates a diverse range of power plants and is involved in the development of energy infrastructure projects.

Average Trading Volume: 32,206,042

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$112.4B

For a thorough assessment of 0902 stock, go to TipRanks’ Stock Analysis page.