Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Stock Exchange of Hong Kong  >  CLP Holdings Limited    0002   HK0002007356

News SummaryMost relevantAll newsSector news 

CLP Holdings Ltd : CLP Holdings CEO : To Maintain Majority Stake In TRUenergy After Possible IPO

05/08/2012 | 01:57am US/Eastern

Power generator CLP Holdings Ltd. (0002.HK) said Tuesday the company intends to maintain a majority stake in its TRUenergy unit if it proceeds with a possible initial public offering of the Australian company.

CLP Chief Executive Andrew Brandler said the company has made no concrete decisions yet on its plans for TRUenergy. "A potential listing in the Australian stock market of our Australian business is something we do have under consideration," said Brandler. "If we did proceed, CLP would still maintain a majority stake of that business."

Brandler's comments came after the blue-chip company said Friday it was reviewing the TRUenergy business and ownership structure, with a number of alternatives including a joint venture, partial or full sale, IPO or other transactions.

Brandler said the possible plans for TRUenergy could help the company repatriate some of its substantial capital invested in Australia back to Hong Kong. He said the Australia unit could also benefit from a larger Australian ownership, which could help its future development.

Separately, Brandler said the company's gas costs will rise significantly over the next few years, fueling immense pressure for more electricity price increases in Hong Kong. "The era of cheap gas in Hong Kong is now over," he said.

-By Jeffrey Ng, Dow Jones Newswires; 852-2802-7002; jeffrey.ng@dowjones.com

React to this article
08/27 CLP : Letter to Non-Registered Shareholders - Choice of Language and Means of Re..
08/27 CLP : Letter to New Registered Shareholders - Choice of Language and Means of Re..
08/19 CLP : Young Power Programme Promotes Green Ideas and Career Aspirations among Yo..
08/14 CLP : CLSA lifts CLP Holdings to HK$64
08/13 CLP : Terms of Reference of Finance & General Committee (13 August 2015)
08/13 CLP : List of Directors and their Roles and Functions (13 August 2015)
08/13 CLP : Provides Supplementary Information on the Future Development of the Electr..
08/13 CLP : H1 Net down 15%
08/13 CLP : 1H net down 15% to HK$5.7bn; div HK$0.55
08/13DJCLP : 1st Half Profit Down 14.8% at HK$5.72 Billion
Duration : Period :
CLP Holdings Limited Technical Analysis Chart | 0002 | HK0002007356 | 4-Traders
Income Statement Evolution
More Financials