MarketWatch
Longyuan Power Group Corp., China's largest producer of electricity from big windmills, has raised $2.2 billion from its Hong Kong initial public offering, having priced its shares at the top end of its indicative range, reports said Friday.
The company sold 2.1 billion shares at 8.16 Hong Kong dollars ($1.05) each, Dow Jones Newswires reported. An option to increase the size of the offer by 15% would see the size of the deal rise to $2.5 billion, although Longyuan has not yet indicated it plans to do so, the report said.
The stock is slated to begin trading Dec. 10.
Separately, China Shipbuilding Industry Co. plans to raise up to 14.72 billion yuan ($2.16 billion) through the sale of shares on the Shanghai Stock Exchange.
The company, the nation's biggest ship builder, plans to sell nearly 2 billion shares at a range between 6.15 yuan to 7.38 yuan, according to reports.
Orders for shares will begin Friday and conclude Monday, the reports said.
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