Builder of Three Gorges Dam seeks $2.7 billion IPO

Sinohydro is competing with Shaanxi Coal Industry to be the biggest IPO in China this year.

Builder of Three Gorges Dam seeks $2.7 billion IPO

State-owned Sinohydro Corp is seeking to raise Rmb17.3 billion $2.7 billion in a Shanghai initial public offering, in a clear indication that Chinese authorities are determined to develop hydroelectric capacity despite turbulence in the country’s equity markets.

The deal is contesting to be China’s biggest IPO this year, alongside Shaanxi Coal Industry’s planned share sale, also worth around $2.7 billion and will be the biggest deal since China Everbright Bank’s $3.2 billion IPO last August...

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