Chinese IPOs

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.
<div style="text-align: left;">
Sinohydro's Three Gorges Dam
</dam>
<div style="text-align: left;"> Sinohydro's Three Gorges Dam </dam>

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. The two issuers will add 5.5 billion new shares to the Shanghai stock market, which has fallen 12% year-to-date, even after yesterday’s strong rally.

China’s securities regulator, the CSRC, typically...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222