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Bank of New York Increases Stake in HNP over 5 %

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buy_icon September  22, 2010 (Chinavestor) - U.S.-based financial holding company The Bank of New York Mellon Corporation has raised its shareholding in Huaneng Power International, Inc. (HKG:0902) (NYSE:HNP) to 5.04% from 4.92% on September 17, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx) (HKG:0388).

HKEx said in a statement that The Bank of New York Mellon Corporation has acquired 2.644 million H-shares in Huaneng Power International (NYSE:HNP) for price unknown.

Shares of Huaneng Power International (NYSE:HNP), the largest independent power generator in China, have swinged widely after Citi reported that negotiations started between regulators and power companies on September 16.

"... power companies surged after a Citi report suggested tariffs are going to start increasing by RMB15-25 per MWh in October. The reports was based on a meeting between the country's top economic planner and representatives of power companies. HKEx-NYSE cross listed Huaneng Power (HKG:0902) (NYSE:HNP) jumped 3.9 percent on the news." China stocks slip in Asia on September 16."

H-shares of Huaneng Power (HKG:0902) soared 2.26% to end at HK$4.97 on Wednesday.


 



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