Longyuan raises US$2.2billion through IPO

Longyuan Group, Asia's largest wind farm operator, has raised US$2.2 billion from an initial public offering (IPO) in Hong Kong on November 27.

by Staff 1 January 2010

It was also listed on the Stock Exchange of Hong Kong (SEHK) in mid December. Some 2.143 billion of its shares, accounting for 30% of the group, were issued - 95% internationally and 5% in Hong Kong. Half of the money raised will be invested in wind farm projects in China.

Longyuan Group is a subsidiary of China Guodian Corporation, one of the top five electric power generating businesses in China. The IPO is one of the world's largest by a renewables company.