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China Everbright Int'l prices unit IPO at mid-range, values firm at $1.4 bln
April 28, 2017 / 8:25 AM / 8 months ago

China Everbright Int'l prices unit IPO at mid-range, values firm at $1.4 bln

HONG KONG, April 28 (Reuters) - China Everbright International said on Friday an offering of shares of its greentech subsidiary has been priced been at HK$5.40 each, near the mid-point of an indicative range, valuing the business at HK$10.8 billion ($1.39 billion).

The energy and infrastructure firm has planned to spin off and separately list its China Everbright Greentech Ltd unit. It is selling up to 644 million shares, or about 30 percent of the unit. The indicative range was HK$5.18-HK$5.90 per share.

Trading in shares of the greentech unit will begin in Hong Kong on May 8.

Last year, China Everbright International had said that a spin-off and listing of the unit would increase its operational and financial transparency. ($1 = 7.7805 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Muralikumar Anantharaman)

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