Beijing Datang Power Generation Company Ltd.

active

Beijing Datang is a subsidiary of North China Power Group Co., a state-owned enterprise established and controlled by the Chinese Ministry of Electric Power. As of December 2002, Beijing Datang owned and operated eight power producing companies and four coal-fired electric power plants with a total installed capacity of 3,450-MW (Dou He - 1,550-MW; Gao Jing - 600-MW; Xia Hua Yuan - 400-MW; Zhang Jia Kou, Phase1, Units 3&4 - 900-MW) to supply electricity to an important region in Northern China, including Beijing and the major industrial cities of Tianjin and Tangshan. After earlier aborted plans for a flotation, 25% of Beijing Datang's equity (1,244,060,000 shares) was divested on the Hong Kong and London stock exchanges at an IPO of HK$2.52 per share on March 21, 1997. A 9.9% stake was acquired by New World Infrastructure Ltd. for HK$1,241,635,000 on this date. Total divestiture revenue was HK$3,135,031,200 - or US$404,635,019 (at an exchange rate of HK$7.7478/US$ as of September 5, 1997). None None