Green IPO Watch at Renewableenergystocks.com Reports on Hong Kong IPO for China Longyuan Power Group Corporation Limited, a Leading Wind Power Generation company in China
Online PR News – 04-December-2009 – – Green IPO Watch at Renewableenergystocks.com Reports on Hong Kong IPO for China Longyuan Power Group Corporation Limited, a Leading Wind Power Generation company in China
POINT ROBERTS, WA – December 4 2009 - www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within www.Investorideas.com,
reports on the IPO for China Longyuan Power Group (0916.HK), a leading wind power generation company in China.
In the Hong Kong IPO, the company sold 2.1 billion shares at 8.16 Hong Kong dollars ($1.05) each. The stock is scheduled to commence trading on December 10th.
According to the company’s earlier press release dated November 27th, China Longyuan Power Group Corporation Limited (”China Longyuan” or the “Company”; Stock Code: 00916), a leading wind power generation company in China, announced the details of the Company’s H share global offering (the “Global Offering”) on 26 November, 2009 while disclosing relevant details on the fact that China Longyuan would get listed on the Main Board of the Stock Exchange of Hong Kong Limited. Earlier, China Longyuan held a presentation on listing in Hong Kong on 23 November, 2009; both Mr. Zhu Yongpeng, President of China Guodian Corporation and Chairman of China Longyuan Power Group Corporation Limited, and Mr. Zhang Guohou, Chief Accountant of China Guodian Corporation, attended the presentation.
The Global Offering of China Longyuan Power Group Corporation Limited comprises a total of 2,142,860,000 H Shares of which approximately 95% (2,035,716,000 H Shares) will be initially offered during its International Offering and approximately 5% (107,144,000 H Shares) will be initially offered during the Public Offering in Hong Kong.
The Public Offering in Hong Kong will commence at 9:00 a.m. on 27 November 2009 and is expected to close at 12:00 noon on 2 December 2009. The trading of China Longyuan’s H Shares on the Main Board of the Stock Exchange of Hong Kong Limited is expected to commence at 9:30 a.m. on 10 December 2009.
Morgan Stanley Asia Limited is the Sole Global Coordinator and Sole Sponsor of the Global Offering. Morgan Stanley Asia Limited and Hong Kong Branch of UBS AG are the Joint Bookrunners, Joint Lead Managers and Joint Financial Advisors of the Global Offering.
On the Presentation, the senior management of Longyuan Power conducted marketing to investors. Altogether over 200 people, including representatives from such intermediaries as Morgan Stanley and UBS AG, institutional investors, fund managers, analysts, and securities sales personnel, attended the Presentation. Certain members of the Board of Directors and the Supervisory Board of China Longyuan Power Group Corporation Limited attended the Presentation as well.
About China Longyuan Power Group Corporation Limited
China Longyuan is the leading wind power generation company in the PRC. It designs, develops, manages and operates wind power plants and sells the electricity to the local grid companies. The Company has a vast network of strategically positioned wind power resources in major areas, including the Three Northeast Provinces, Inner Mongolia, Southeast Coastal Provinces, Xinjiang, Gansu and Hebei. According to BTM, the Company ranked the first in PRC and Asia Pacific and the fifth in the world in terms of installed wind power capacity at the end of 2008, whereas, the total installed wind power capacity accounted for approximately 24.1%, 11.1% and 2.4% of the total installed wind power capacity of the PRC, Asia Pacific and the world, respectively, at the end of 2008. Moreover, the Company’s brand “Longyuan Wind Power” was awarded “The 500 Most Valuable Brands in Asia”, which is a proven reputation for the Company.
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