Yangtze Power nets $1.8bn from London listing

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By Jonathan Breen
25 Sep 2020

China Yangtze Power has raised $1.8bn from a smaller-than-expected offer of Global Depositary Receipts in London, sealing only the third listing through the London-Shanghai Stock Connect scheme.

The Chinese utilities company priced a float of 69.1m GDRs on Thursday during UK hours at $26.46, after a single day of bookbuilding. Each GDR represents 10m of the issuer’s Shanghai listed A-shares.

Global co-ordinators CLSA, Goldman Sachs, Huatai Financial and UBS launched the trade on Wednesday ...

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