Huadian Fuxin prices IPO above low end to raise $319 million

Retail investors surprise by taking up 94% of the Huadian Fuxin allocation, but the greenshoe is cut to 12.2% in a reflection of the overall demand for the renewable energy company.

Huadian Fuxin prices IPO above low end to raise $319 million
China Huadian's Beijing headquarters (ImagineChina)

Huadian Fuxin Energy Corp has raised HK$2.48 billion $319 million from its initial public offering after pricing the deal slightly above the bottom of the price range at HK$1.65 per share. The company, which is the renewable energy arm of the China Huadian Group, is due to start trading in Hong Kong on June 28.

In response to the poor sentiment for IPOs at the moment, the deal was pretty much covered...

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