By Adriano Marchese
SDIC Power Holdings Co. Ltd. (600886.SH) said Tuesday that it is considering offering its global depositary receipts on the London market.
The Chinese power-generation company said the offering is expected to consist solely of newly issued GDRs representing underlying A-shares of the company. The GDRs will be traded on the Shanghai-London Stock Connect, which was launched in June to make Chinese shares available to U.K. investors, and vice versa.
"Our decision to issue GDRs was made in response to our business needs and aims to further enhance our international profile and influence in Europe, especially in the UK, to promote our business development in these regions," Chairman Zhu Jiwei said.
SDIC Power describes itself as a leading power-generation company in China across hydro, coal and solar-powered plants. It had 34.4 gigawatts of installed capacity as of June 30.
Goldman Sachs International, UBS AG and HSBC Bank are acting as joint global co-ordinators and joint bookrunners.
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