'China's GE' looks to brave poor market sentiment

Shanghai Electric Group will need to tell a convincing story ahead of its approx. $700 million H-share IPO in Hong Kong.

With market sentiment turning bearish in the past week on the back of interest rate risk in the US, as well as some fears of a China hard landing, the manufacturing conglomerate's timing might appear less than ideal.

Nevertheless, the company plans to price on April 6 ahead of the flotation of the equivalent of 25% of its enlarged share capital, or 29% post Greenshoe. The number of shares will amount to 2.97 billion shares pre-Greenshoe. Primary...

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