Datang Environment revives HK IPO

China Datang Group has launched a second attempt to spin-off its energy conservation business as China tightens emissions standards.

State-owned power generator China Datang Group revived the initial public offering of its environmental protection and energy conservation business on Tuesday its second attempt to list the business after postponing an earlier deal late last year.

Initial terms show that Datang Environment Industry will raise a maximum of HK$2.56 billion $330 million on a pre-shoe basis, based on an indicative price range of HK$3.55 to HK$4.74 per share.

The company is selling 540 million shares, equivalent to 18.37% of its enlarged share capital, with an upsize option encompassing an additional 81 million shares.

Syndicate bankers said the...

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