Datang unit denies ChiNext reports
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Datang International Power, the Hong Kong-listed unit of China's state-owned power generator China Datang Corp, yesterday denied reports that the company was considering spinning off its coal chemical and new energy businesses and listing them on the Shenzhen Stock Exchange's ChiNext board.
In a statement filed to the Hong Kong exchange, Datang International Power said it had no current plan to spin off and list its coal chemical business and new energy businesses on ChiNext.
"And it is not a fact that the spin-off plan has been approved by the China Securities Regulatory Commission," it said.
Citing Datang International Power's Vice Chairman Cao Jingshan, the Wall Street Journal reported on its Chinese-language Website that the company had won approval to sell shares of its alternative energy and coal-to-chemical businesses on ChiNext.
