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

China Everbright Environment

28/04/2017 09:23

HONG KONG, April 28 (Reuters) - China Everbright 
International  0257.HK  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  1257.HK  
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.  urn:newsml:reuters.com:*:nL3N1HL1XQ 
    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) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: EVERBRIGHT INTL GREENTECH/IPO