GC
Xinyi Energy charges up $564m Hong Kong IPO
Xinyi Energy Holding, a Chinese solar power producer, has hit the road to begin drumming up interest in its up to HK$4.4bn ($564m) IPO, according to a term sheet seen by GlobalCapital Asia.
The float comprises 1.88bn new shares, 28.41% of the issuer’s total equity capital, which sole sponsor BNP Paribas is marketing at HK$1.89 to HK$2.35 each.
At price guidance Xinyi could raise anywhere from HK$3.6bn to HK$4.4bn or as much as HK$5.1bn based on the 15% greenshoe of 282.4m primary
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