The company plans to issue 2.11 billion shares priced at 10.11 yuan apiece, with the potential to reach 2.42 billion shares if an overallotment option is fully exercised. This move would generate approximately $3.60 billion, comfortably eclipsing the 13.9 billion yuan record set by Yihai Kerry Arawana in 2020. Market enthusiasm remains intense, evidenced by the retail portion of the offering being oversubscribed by 683.40 times.
In section Market Quotes
China Resources New Energy Targets Record $3.6 Billion Shenzhen IPO
Retail investors have placed bids worth 6.4 trillion yuan for China Resources New Energy’s upcoming public offering, signaling an unprecedented appetite for the firm’s stock. The renewable energy subsidiary of China Resources Power Holdings is now positioned to execute the largest listing in the history of the Shenzhen Stock Exchange.
China International Capital Corp. and Citic Securities are steering the deal as joint sponsors. The massive capital raise arrives as Beijing accelerates its national energy transition, fueling robust investor interest in renewable assets across mainland and Hong Kong markets. Despite the positive reception of the IPO, shares of the parent company, China Resources Power Holdings, dipped 0.7% during Wednesday morning trading in Hong Kong.
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