Biz Scene: Market

More power

Yangtze Electric Power Co, operator of the Three Gorges hydroelectric dam, yesterday said it generated 27 percent more electricity in the first three quarters compared with the previous year.

Yangtze Power produced 34.07 billion kilowatt-hours in the January-September period, reflecting a 43.73 percent jump in power allocated from the Three Gorges, it said in a statement.

Zhenhua offering

Shanghai Zhenhua Port Machinery Co, a maker and exporter of container cranes and other port equipment, yesterday launched a public share offering that it said was expected to raise 3.65 billion yuan.

Zhenhua priced the shares at 29.08 yuan, its average market price in the last 20 trading days. Announcing plans for the issue in March, the company said it would offer up to 200 million new A shares to institutional and retail investors. Proceeds from the issue will be used for operating capital and to invest in expansion, it said.

(China Daily 10/12/2007 page15)