China Three Gorges Plans $3.5 Billion IPO of Renewables Unit
- Assets are mainly domestic solar, wind and hydro power plants
- Parent firm has separately explored revamp of overseas assets
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State-owned China Three Gorges Renewables Group Co. is seeking to raise 25 billion yuan ($3.5 billion) in what could be one of the country’s biggest initial public offerings this year.
The company plans to sell as many as 8.57 billion shares in Shanghai, according to a prospectus posted on the website of the China Securities Regulatory Commission. The assets to be listed are mainly domestic solar and wind farms, as well as small hydro power plants, with a total capacity of almost 10 gigawatts.