By Adria Calatayud

China Yangtze Power Co. said Wednesday that it plans to list on the London Stock Exchange and that it intends to raise between $2.91 billion and $3.40 billion through the public offering.

The Chinese hydropower company, which is already listed in Shanghai, said it intends to proceed with an offering of up to 110 million global depositary receipts--or GDRs--at a price of between $26.46 and $30.95 each. The final price of the offering will be determined based on a book-building process that is expected to close on Thursday, the company said.

China Yangtze Power said conditional trading is expected to start on or around Friday, with unconditional trading expected to start on or around Sept. 30.

The company--which operates four hydropower projects along the upper and midstream of the Yangtze River, including the Three Gorges project--said 80% of its London listing proceeds would be used to repay loans for acquiring interests in companies which in aggregate hold a 83.64% stake in Peruvian electricity-distribution company Luz del Sur SAA.

Goldman Sachs International, UBS AG London Branch, Huatai Financial Holdings (Hong Kong) Ltd. and CLSA Ltd. are acting as joint global coordinators and joint bookrunners, the company said. China International Capital Corp. (UK) Ltd., Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd., Merrill Lynch International and Morgan Stanley & Co. International PLC are acting as joint bookrunners, China Yangtze Power said. 



  Write to Adria Calatayud at adria.calatayud@dowjones.com