Dynagreen opens books ahead of IPO

Demand appears strong for one of China’s leading waste-to-energy companies, which aims to corner an untapped market - small- to medium-sized cities.

The retail book for Dynagreen Environmental Protection Group, a Chinese waste-to-energy company, opened on Monday ahead of its planned Hong Kong initial public offering.

Demand for the company appears to be strong. Dynagreen, one of China's leading waste-to-energy companies, is in an attractive sector and, given that it will be offered at a discount to its closest peer China Everbright, the books were covered on the first day of bookbuild.

The company is offering 30% of its enlarged share capital pre-greenshoe via the 300 million-primary share base deal, which is being marketed between HK$3 and HK$3.70 per share. It aims to raise $143 million.

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