Huaneng's wind power unit raises $800 million ahead of HK listing

Huaneng Renewables allocates 93.5% to institutional investors after the retail tranche of its IPO is undersubscribed.

Huaneng's wind power unit raises $800 million ahead of HK listing

Huaneng Renewables, the wind power unit of China’s largest power producer, China Huaneng Group, has raised HK$6.23 billion $800 million from its second attempt at a Hong Kong initial public offering.

The company’s first effort in December last year was called off before pricing partly due to a competing IPO from a key mainland rival, Datang Renewable, that was offered at a cheaper valuation. So it was probably with some satisfaction that Huaneng was...

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