Aug 20, 2014 - Chinese wind farm developer and operator CECEP Wind-Power Corp said today it will sell 177.78 million common shares as part of its initial public offering (IPO) on the Shanghai Stock Exchange.
The listing has now secured the approval of the China Securities Regulatory Commission and China Securities Depository and Clearing Corp Ltd. Zhong De Securities Co Ltd will act as lead underwriter of the placement.
The shares to be sold will represent 10% of the company’s total shares outstanding, which amount to some 1.6 billion. The completion of the IPO is expected in early September. After that the company will be trading under the ticker SHA:601016.
Beijing-based CECEP Wind-Power, formerly known as China Energy Conservation Windpower Investment Co Ltd, is majority-owned by the China Energy Conservation and Environmental Protection Group. According to China Wind Power Center's (CWPC) website, the company operated 1.4 GW of grid-connected wind farms at the end of 2013.
In the spring of 2012 CECEP Wind was planning to raise some CNY 824 million (USD 134m/EUR 101m) from a Shanghai listing to back wind farm projects, but the IPO did not take place.