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Biggest Chinese IPO This Year May Go Green

Photo: Prorab12

The Chinese operator of solar, wind and hydroelectric power plants China Three Gorges Renewables has sent a prospectus to the Shanghai Stock Exchange, in which it announced plans to place 8.57 billion shares in May as part of an IPO, Bloomberg writes. The expected volume of the placement is unknown, but last year the company announced plans to raise 25 billion yuan, or about $ 3.85 billion at the current exchange rate.

All of its green assets, which mainly include wind and solar power plants and small hydroelectric plants, are valued at over 140 billion yuan ($ 21.5 billion).

China Three Gorges Renewables is owned by China Three Gorges, the world’s largest hydroelectric operator and the country’s largest green company.

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