Monday , September 23 2019

Xinyi Energy raises $465 million in IPO

Bloomberg

Xinyi Energy Holdings Ltd., a Chinese solar farm operator, raised $465 million after pricing its Hong Kong initial public offering near the bottom of a marketed range, people with knowledge of the matter said.
The unit of Xinyi Solar Holdings Ltd. sold 1.88 billion shares at HK$1.94 apiece, the people said, asking not to be identified because the information is private. Xinyi Energy offered the shares at HK$1.89 to HK$2.35 each, according to a prospectus. It aims to begin trading May 28.
At $465 million, Xinyi Energy’s offering will become the second biggest first-time share sale in Hong Kong this year, trailing only Chinese brokerage Shenwan Hongyuan Group Co.’s $1.2 billion listing, according to data compiled by Bloomberg. Before the deal, the city’s IPO fundraising was having the slowest start to a year since 2013, with just $4.4 billion raised, the data show.

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