Datang renewables unit seeks $879 million from HK IPO

Having initially postponed the deal, Datang decides to go head-to-head with Huaneng Renewables for investor interest in the China clean-energy sector. Meanwhile, beverage packaging firm Greatview raises $185 million ahead of its Hong Kong listing.

China Datang Corporation Renewable Power yesterday returned to the market to compete with Huaneng Renewables for investor interest in China’s clean energy companies.

The renewable energy unit of China Datang Corporation, one of the largest power generation groups in the country, initially planned to start the roadshow last week but delayed the offering due to concerns about market uncertainty.

However, yesterday it decided to go ahead after all, kicking off the bookbuilding for a Hong Kong initial public offering between HK$4.99 billion and HK$6.8 billion $644 million to $879 million.

It was unclear why Datang made the decision to return so soon, but the Hong Kong equity market has stabilised somewhat...

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