Three Gorges Dam Mulls IPO in China to Raise as Much as $3.5B By

By Gina Lee – China’s Three Gorges Renewables Group is planning to raise up to CNY 25 billion ($3.52 billion) in what could be the country’s second biggest IPO of the year.

Three Gorges looks to sell up to 8.57 billion shares on the Shanghai bourse, according to its prospectus on the China Securities Regulatory Commission. It will list mostly domestic solar and wind farms and hydropower plants with a total capacity of around 10 gigawatts.

The company will use CNY 20 million of the proceeds to fund seven new offshore wind farms, with the remainder CNY 5 million will be working capital. 

It aims to operate 6 gigawatts of offshore wind power capacity by the end f the year, including projects under construction. It had a 1.47-gigawatt capacity as of December 31. 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.