Huaneng Renewables seeks $1.3 billion from Hong Kong IPO

The wind-power producer and its bookrunners believe the company deserves a valuation premium to other clean-energy plays in China.

Huaneng Renewables Corporation, the wind-power unit of the nation’s largest power producer China Huaneng Group, is looking to raise HK$7.4 billion to HK$9.9 billion $965 million to $1.28 billion from a Hong Kong IPO.

The company, which will be the only pure wind-power producer among China's big industry players to list on an international market, kicked off the institutional bookbuilding yesterday and has received a positive response so far. Investor interest is supported by the company’s...

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