Towngas China Eyes Asset-Backed Securities Program

Towngas China Co (HK:1083) has released an update.

Towngas China Co has announced its intention to register an Asset-Backed Securities (ABS) Program on the Shenzhen Stock Exchange, targeting professional institutional investors for trading of debt securities with a total registration amount not exceeding RMB5 billion. The company may dispose of interests in subsidiaries focused on rooftop photovoltaic power generation and energy storage projects in the PRC as part of the program, though the disposals and the program’s establishment remain subject to regulatory approval and investor interest. Investors are advised to exercise caution, as there is no certainty about the disposals occurring or their timing.

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