China High Speed and management sell $418 million of stock

The well-received deal is completed at a 6% discount with the company taking just over two-thirds of the proceeds.

Hong Kong-listed China High Speed Transmission and parts of its management last night raised HK$3.25 billion $418 million from a share sale that was covered within 30 minutes and attracted strong interest from long-only funds in particular.

The demand indicates that global investors haven’t lost their appetite for alternative energy plays -- China High Speed makes gearboxes for wind power turbines -- which should be encouraging for a number of other Chinese companies in this sector that are currently...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition