China Power hopes to fuel Hong Kong IPO market

China''s largest IPP begins pre-marketing its IPO.

Pre-marketing began yesterday September 7 for a $300 million to $350 million IPO of red chip China Power International Development CPI, the flagship arm of the China Power Group, the largest of China's five national independent power producers IPPs.

Merrill Lynch is sole bookrunner of the deal, which is scheduled to price towards the end of the week beginning October 4 following two weeks of pre-marketing and two weeks of roadshows. Nomura will also run a POWL Public Offer Without Listing in Japan, while Credit Suisse First Boston and JPMorgan will be co-leads.

The group will have a freefloat of 33% pre greenshoe....

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