Huaneng Power, Datang Intl get clearance to list green energy units in Hong Kong - report

(ADPnews) - Nov 15, 2010 - Huaneng Power International (HKG:0902, SHA:600011) and Datang International Power Generation (HKG:0991, SHA:601991) have reportedly received the green light to float their renewable energy arms on the Hong Kong Stock Exchange (HKSE), caixun.com writes.

According to the report, Huaneng New Energy Industrial targets initial public offering (IPO) proceeds of around HKD 7.8 billion (USD 1bn/EUR 739m). China International Capital Corp, Goldman Sachs, Macquarie and Morgan Stanley will act as sponsors of the IPO.

Datang Renewable Power seeks to raise some HKD 11.7 billion. It has appointed UBS and JP Morgan as sponsors.

Rumours that Datang is preparing to spin off its clean energy division on the stock market first spread in February. However, at the time the company denied reports that it has got the green light to spin off its clean energy unit in an IPO on the Shenzhen-based ChiNext stock exchange.

Only in October, seven companies from China's green energy sector pocketed millions of dollars in IPOs in China and the US. This month, Chinese Titan Wind Energy (Suzhou) Co Ltd received the thumbs-up from the China Securities Regulatory Commission (CSRC) to issue 52 million shares in a domestic IPO.

(HKD 1.0 = USD 0.129/EUR 0.095)

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