Longyuan H-share placement

Longyuan Power drops on share sale plan

China's largest wind power producer says the placement of new H-shares may account for up to 18.2% of its overall share capital and, based on current market prices, it could raise as much as $900 million.

<div style="text-align: left;"> China Longyuan Power will use the proceeds to invest in its renewable energy projects </div>

Anette Jönsson

May 15, 2012

The share price of China Longyuan Power, China’s biggest producer of wind power, yesterday dropped 10.8% after the company said it plans to issue new H-shares, as investors worried about the dilution and about a potential overhang on the stock until the sale has been completed. The drop left the stock at its lowest level since the listing in Hong Kong more than three years ago.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.