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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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Chinese power generation company SDIC says it may list GDRs in London

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11/19/2019 | 07:09am EDT
A power station of the State Development & Investment Corporation (SDIC) is reflected in a lake in Tangshan

Chinese power generation group SDIC is considering proceeding with an offering of global depositary receipts (GDRs) in London under a link with the Shanghai exchange, it said on Tuesday.

The offering would include newly issued GDRs representing underlying "A" shares in the firm, and the proceeds would be used to help expand SDIC's renewable energy business overseas and paying down offshore debt, the company said

Reuters reported in July that the state-backed energy firm had hired banks to list in London via the Shanghai-London Stock Connect scheme, in a boost for Britain's status as a financial centre ahead of Brexit.

SDIC Power, which has a market value of $7.9 billion, is looking to raise between $500 million and $1 billion from the sale, a source had said at that time.

The company, which invests in, constructs and operates electric power plants, has a presence in Britain through its ownership of Red Rock Power, a Scotland-based wind farm operator.

It is also involved in other alternative energy generation, including hydropower, thermal, wind and photovoltaic. On July 3, SDIC said its board had approved a resolution to sell its GDRs in London.

"Through this offering, we will gain better access to the international capital markets," Chairman Zhu Jiwei said in Tuesday's statement.

Chinese brokerage Huatai Securities was the first company to list in London under the Stock Connect link with the Shanghai exchange. There had been concerns that not many companies would follow Huatai to London.

Under the scheme, Chinese companies can list depositary receipts pegged to their Shanghai-listed shares, while British companies can issue shares on the Shanghai Stock Exchange.

Goldman Sachs International, UBS AG London Branch and HSBC Bank plc are acting as joint global co-ordinators and joint bookrunners for the offering.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong and Jan Harvey)

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Financials
Sales 2020 37 847 M 5 574 M 5 574 M
Net income 2020 5 333 M 785 M 785 M
Net Debt 2020 126 B 18 510 M 18 510 M
P/E ratio 2020 11,6x
Yield 2020 2,97%
Capitalization 61 210 M 9 014 M 9 015 M
EV / Sales 2020 4,94x
EV / Sales 2021 4,78x
Nbr of Employees 9 374
Free-Float 37,4%
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Technical analysis trends SDIC POWER HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 8,76 CNY
Last Close Price 9,02 CNY
Spread / Highest target 25,3%
Spread / Average Target -2,86%
Spread / Lowest Target -24,6%
EPS Revisions
Managers
NameTitle
Hua Jiang General Manager & Director
Ji Wei Zhu Chairman
Li Xin Qu Chairman-Supervisory Board
Yue Xiang Niu Chief Financial Officer
Yuan Ling Zhang Director
Sector and Competitors
1st jan.Capitalization (M$)
SDIC POWER HOLDINGS CO., LTD.-1.74%8 981
NTPC LTD-28.48%11 421
ENGIE BRASIL ENERGIA S.A.-20.98%5 789
CHINA RESOURCES POWER HOLDINGS COMPANY LIMITED-21.39%5 338
ERG S.P.A.9.26%3 670
ELECTRICITY GENERATING-42.07%3 161