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Asset injections to SOEs expected
By Fei Ya (China Daily)
Updated: 2007-03-05 09:10 Dongfang Electrical Machinery Co Ltd On February 5, Dongfang Electrical Machinery Co Ltd said it will purchase 68.05 percent of shares in Dongfang Boiler (Group) Co Ltd from its parent company Dongfang Electric Corporation, paid for by the issuance of 367 million A shares. By February 12, its share price had increased by 43 percent. China Yangtze Power Co Ltd
The deal will increase Changjiang's power generation by 20 percent to a total of 8,315,000 kilowatts by 2008. The company is expected to assemble all of the Three Gorge project's 26 power-generating units, and analysts believe it could be the best time for the company to list in its entirety. China Spacesat Co Ltd Spacesat Co Ltd's major shareholder, China's flagship institute of space technology the China Academy of Space Technology, is expected to inject a package of assets into China Spacesat Co Ltd. The company's core business is satellite manufacturing, and it is likely to expand its business by at least four or five times during the 11th Five-Year Plan (2006-10). Xi'an Aircraft International Corporation By making a private placement, the company will buy a package of assets from its parent company AVICI Xi'an Aircraft Industry (Group) Company to become the company with the most comprehensive businesses in the mainland's aircraft making industry. (For more biz stories, please visit Industries)
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China Yangtze Power Co Ltd has issued 1.23 billion warrants and is expected to raise as much as 6.57 billion yuan. The money will be used to purchase two of the Three Gorges project's power-generating units.