China Power New Energy holder selling $37 mln of shares

HONG KONG, July 14 (Reuters) - A shareholder of China Power New Energy Development Co Ltd (0735.HK) is selling up to HK$285 million ($36.5 million) worth of shares at a discount of between 4 percent and 10 percent to its closing price on Monday, according to a document sent to investors.

The shareholder, Wealth Success Ltd, was selling 300 million existing shares at HK$0.89 to HK$0.95 each, in a deal handled by CLSA.

The shareholder has an option to upsize the sale to 400 million existing shares, the document said.

(US$1=HK$7.8)

(Reporting by Kennix Chim; editing by Anne Marie Roantree)