China's SDIC Power Holdings Plans to Offer Global Depositary Receipts in London
November 19 2019 - 6:45AM
Dow Jones News
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.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 19, 2019 06:30 ET (11:30 GMT)
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