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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  SDIC Power Holdings CO., LTD.    600886   CNE000000JM2

SDIC POWER HOLDINGS CO., LTD.

(600886)
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SDIC Power : Chinese power firm SDIC set for London listing

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11/27/2019 | 01:15am EST

LEADING Chinese energy generation firm SDIC Power yesterday confirmed it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE).

Shanghai-listed SDIC is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction.

It was also suggested that the company would aim to complete the deal by Christmas. SDIC said the proceeds would be used for further investment in renewable energy sources.

The offering is the second to take place under a new scheme linking the London and Shanghai bourses.

Chinese brokerage Huatai Securities listed in London in June this year, raising $1.5bn (£1.17bn) in the process. The decision is a much-needed boost for the LSE, which has seen a number of initial public offerings cancelled or postponed in recent months.

SDIC chairman Zhu Jiwei said: "A listing on the LSE will represent the next stage in the development of SDIC Power, following our transformation from a coal-fired power focused company to one of China's leading clean energy generators.

"We believe that a flotation on the LSE will support our growth strategy, through which we will increase our clean energy capacity and continue our global expansion."

He added that the firm will seek acquisitions and new projects, including in Asia and Europe.

SDIC is already a co-investor in the Beatrice offshore wind power project, the largest such asset in Scotland.

The wind farm, which can supply wind-powered electricity for up to 450,000 homes, was funded through a joint venture between SSE Renewables, Copenhagen Infrastructure Partners, and SDIC Red Rock Power.

(c) 2019 City A.M., source Newspaper

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Financials (CNY)
Sales 2019 42 745 M
EBIT 2019 11 087 M
Net income 2019 4 924 M
Debt 2019 129 B
Yield 2019 2,97%
P/E ratio 2019 12,1x
P/E ratio 2020 11,5x
EV / Sales2019 4,41x
EV / Sales2020 4,43x
Capitalization 59 310 M
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Technical analysis trends SDIC POWER HOLDINGS CO., L
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 10
Average target price 9,30  CNY
Last Close Price 8,74  CNY
Spread / Highest target 24,7%
Spread / Average Target 6,38%
Spread / Lowest Target -14,2%
EPS Revisions
Managers
NameTitle
Ji Wei Zhu General Manager & Director
Gang Hu Chairman
Yue Xiang Niu Chief Financial Officer
Jie Li Member-Supervisory Board
Shao Xiang Luo Deputy Chairman
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