China Longyuan Power Group Corp, the nation's biggest wind-power project developer, declined sharply in Hong Kong after saying it plans to sell 1.36 billion new shares. The stock closed at HK$5.21 (67 US cents), down 10.8 percent.
The shares to be sold may represent as much as half of the stock issued in Hong Kong, the company said in a Friday filing. Longyuan said it will use the proceeds to fund new renewable energy projects, especially wind farms.
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