Shenergy Co. said it had received regulatory approval to issue up to 200 million additional shares for potential acquisitions and to boost generating capacity.

The Shanghai-based power supplier will become one of the first listed companies given the nod by the China Securities Regulatory Commission (CSRC) to raise capital after the lifting of a one-year freeze on stock sales.

Shenergy, also a major power investment company, said Friday it plans to raise 1.2 billion yuan (US$149.8 million) by selling no more than 200 million additional shares, according to a filing to the Shanghai Stock Exchange.

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