Sep 23, 2014 - Chinese wind farm operator CECEP Wind-Power Corp (SHA:601016) said Monday it has concluded its initial public offering (IPO) on the Shanghai Stock Exchange, raising some CNY 386 million (USD 63m/EUR 49m).
The company sold 177.78 million common shares at CNY 2.17 apiece. It will use the proceeds to increase its installed wind power capacity. 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.
The shares, offered on the Shanghai online platform, attracted 426 times more bookings than anticipated. As a result, online purchases totalled 160 million shares, or 90%, of the total in the IPO. Zhong De Securities Co Ltd served as lead underwriter.
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.