Huaneng Renewables calls off $1.3 billion IPO

Huaneng decides not to proceed with its Hong Kong listing, blaming volatile market conditions, while domestic competitor China Datang prices its share offer at the bottom end to raise $644 million.

Huaneng Renewables Corporation, the wind power unit of China’s largest power producer China Huaneng Group, scrapped its $1.3 billion Hong Kong initial public offering yesterday, citing unfavourable market conditions.

¬ Haymarket Media Limited. All rights reserved.

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