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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Yangtze Power Co., Ltd.    600900   CNE000001G87

CHINA YANGTZE POWER CO., LTD.

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China Yangtze Power Prices London IPO at $26.46 per GDR

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09/24/2020 | 02:50pm EDT

By Ian Walker and Adriano Marchese

 

China Yangtze Power Co. on Thursday priced its London public offering at $26.46 per global depositary receipt -- or GDR -- the bottom of the range set Wednesday.

The Chinese hydropower company, which is already listed in Shanghai, has raised $1.83 billion in its offering.

The company said previously that 80% of the money raised will be used to repay loans for acquiring interests in companies which in aggregate hold an 83.64% stake in Peruvian electricity-distribution company Luz del Sur SAA.

It said that a further 6.9 million GDRs are being made available by the over-allotment option, which if exercised in full would increase the offer size to $2.01 billion.

China Yangtze said Wednesday it planned to raise between $2.91 billion and $3.40 billion through a public offering that would be conducted via a bookbuild.

It also said that it would offer up to 110 million GDRs at a price of between $26.46 and $30.95 each.

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.

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 Ian Walker at ian.walker@wsj.com, and Adriano Marchese at adriano.marchese@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
CHINA INTERNATIONAL CAPITAL CORPORATION LIMITED 2.01% 18.28 End-of-day quote.21.70%
CHINA YANGTZE POWER CO., LTD. 0.21% 19.13 End-of-day quote.4.08%
CITIGROUP INC. -1.79% 41.13 Delayed Quote.-48.52%
CREDIT SUISSE GROUP AG -4.23% 9.108 Delayed Quote.-27.87%
MORGAN STANLEY -2.10% 47.57 Delayed Quote.-6.94%
THE GOLDMAN SACHS GROUP, INC. -3.02% 189.77 Delayed Quote.-17.47%
UBS GROUP AG -4.44% 10.585 Delayed Quote.-9.73%
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Financials
Sales 2020 52 739 M 7 848 M 7 848 M
Net income 2020 22 626 M 3 367 M 3 367 M
Net Debt 2020 119 B 17 736 M 17 736 M
P/E ratio 2020 18,6x
Yield 2020 3,66%
Capitalization 435 B 64 659 M 64 742 M
EV / Sales 2020 10,5x
EV / Sales 2021 9,94x
Nbr of Employees 4 129
Free-Float 23,9%
Chart CHINA YANGTZE POWER CO., LTD.
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China Yangtze Power Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends CHINA YANGTZE POWER CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 21,85 CNY
Last Close Price 19,13 CNY
Spread / Highest target 49,0%
Spread / Average Target 14,2%
Spread / Lowest Target -9,04%
EPS Revisions
Managers
NameTitle
Guo Qing Chen Director
Chong Jiu Zhang Independent Director
Zhen Bo Ma Vice Chairman
Wen Hao Hong Director
Ren Huai Zong Director
Sector and Competitors
1st jan.Capitalization (M$)
CHINA YANGTZE POWER CO., LTD.4.08%64 745
EDP RENOVÁVEIS, S.A.49.90%16 249
HUANENG LANCANG RIVER HYDROPOWER INC.-2.84%11 006
NORTHLAND POWER INC.59.15%6 636
NEXTERA ENERGY PARTNERS, LP21.71%4 723
NEOEN44.50%4 504