Deals
China Energy Engineering Draws Silk Road, GE to $2 Billion IPO
- State-owned power-plant builder starts taking orders for IPO
- Twenty cornerstone investors to buy $1.27 billion of stock
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China Energy Engineering Corp., a state-owned builder of power plants, and an existing investor are seeking as much as $2 billion from a Hong Kong initial public offering.
The Beijing-based company and the National Council for Social Security Fund are offering 8.8 billion shares at HK$1.59 to HK$1.73 apiece, according to terms for the deal obtained by Bloomberg. New shares account for about 90.9 percent of the sale. Twenty cornerstone investors, including China’s Silk Road Fund and General Electric Co., agreed to buy a combined $1.27 billion of stock in the offering, the terms show.