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Southern Power Grid Has NO Further Action about Listing

Posted on: Mon, 02 Nov 2009 06:35:00 EST

Symbols: LFC

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GUANGZHOU, Nov 02, 2009 (SinoCast Daily Business Beat via COMTEX) --
LFC | Quote | Chart | News | PowerRating -- China Southern Power Grid Co., Ltd. has not put the listing into its agenda by now, Zhou Jitai, vice general manager of the Chinese power grid company announced lately.

The company has had a plan to go public since its establishment in 2002, but it was delayed by the nation's electricity reform. In 2006, China Life Insurance Co., Ltd. (SHSE: 601628) became the company's new shareholder, and it accelerated the listing.

The company's fixed-asset investments for the full year 2009 is expected to largely rise 60% year on year to CNY 102.5 billion, including electricity grid investments of CNY 87.99 billion, pointed out Zhou. From January to September, it totally sold 381.3 billion kilowatts electricity, up 3.9%. And the growth respectively climbed 10.7 and 5.2 percentage points compared with the figure in the fourth quarter of 2008 and the first half of 2009.

Southern Power Grid plans to develop the low-carbon business later, and Zhou predicted that 41.3% of its power would come from the hydropower business by 2020; 44.7% from thermal power; 9.4% from nuclear power; and 4.7% from new energy.

Source: www.cnstock.com (November 02, 2009)

For full details on China Life Insurance Company Limited ADS (LFC) LFC. China Life Insurance Company Limited ADS (LFC) has Short Term PowerRatings at TradingMarkets. Details on China Life Insurance Company Limited ADS (LFC) Short Term PowerRatings is available at This Link.

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