HPI gets approval for A-share listing

Huaneng Power International has confirmed that approval has been granted for an A-share listing.

Huaneng Power International HPI has confirmed that it has received approval for an A-share listing after its merger with Shandong Huaneng Power SHP is completed. HPI told analysts at a briefing on Monday that the government in Beijing and the China Securities Regulatory Commission had assented to the share sale once the merger formalities are completed by the end of the year. That means the company would be looking to list on the Shanghai Stock Exchange in the first quarter of 2001.

The size of the sale is likely to be around 350 million shares with a price predicted to be around the Rmb5 $0.61 level. That would translate into...

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