Delayed China Datang IPO returns after price cut
China Datang’s wind power unit launched its delayed IPO for up to HK6.8bn ($875m) on Thursday, quashing rumours that the deal had been cancelled altogether. But pricing has been cut from initial indications, despite improved sentiment in Asia’s equity capital markets this week.
Bookbuilding for China Datang Corporation Renewable Power will start with a price range slightly lower than the informal guidance originally shown to the market, after the offer was postponed last week due to market jitters.
The price range on the deal has been set at HK$2.33-HK$3.18 a share, giving
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