China

China

Longyuan raises US$2.2billion through IPO

Longyuan Group, Asia's largest wind farm operator, has raised US$2.2 billion from an initial public offering (IPO) in Hong Kong on November 27.

It was also listed on the Stock Exchange of Hong Kong (SEHK) in mid December. Some 2.143 billion of its shares, accounting for 30% of the group, were issued - 95% internationally and 5% in Hong Kong. Half of the money raised will be invested in wind farm projects in China.

Longyuan Group is a subsidiary of China Guodian Corporation, one of the top five electric power generating businesses in China. The IPO is one of the world's largest by a renewables company.

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