China’s Yangtze Power to Raise Up to $3.4 bln in London Listing

Sept 23 (Reuters) – China Yangtze Power Co Ltd on Wednesday launched a secondary London listing to raise up to $3.4 billion, cementing a strong post-summer period for stock market listings and providing a boost for financial ties between Britain and China.

In what would be the biggest deal under a Shanghai-London stock connect scheme, Yangtze Power said it plans to list 110 million global depositary receipts (GDRs) on the London Stock Exchange between $26.46 and $30.95 apiece.

This sets the targeted proceeds at between $2.91 billion and $3.40 billion. The deal is set to price on Wednesday and to list on Thursday, one of the most rapid timetables for a stock market listing. Read more…..


Chart of the Day

Icarus TV

China fears more devastating floods as Yangtze River’s levels rise again. River nears crest, threatening further damage from seasonal floods that have been especially severe this year.

Share This Post

Leave a Reply