longyuan-power-shows-investors-are-keen-to-buy-green

Longyuan Power shows investors are keen to buy green

The Chinese wind power company prices its Hong Kong IPO at the top to raise $2.3 billion.

China's leading provider of wind power, China Longyuan Power Group Corp, was able to raise the maximum funds it sought from its initial public offering after the deal attracted the support of several global funds specialising in renewable energy.

A source said these funds helped drive the momentum in the bookbuilding and also gave the company and the bookrunners the confidence to fix the price at the top of the offering range despite some price sensitivity in the order book.

The final price of HK$8.16 resulted in a total deal size of HK$17.49 billion $2.3 billion. The stock is due to start trading on the Hong Kong main board on Thursday...

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