Datang Environment Industry IPO

Datang Environment Industry IPO

Postby winston » Wed Nov 02, 2016 6:53 am

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Datang Environment Industry, a subsidiary of China Datang Corporation, will open its retail book on November 3, seeking to raise as much as HK$2.56 billion through selling 540 million shares.

Datang priced its shares at an indicative range between HK$3.55 and HK$4.74 apiece. Shares will start trading on November 15.

Anbang Insurance Group and China Life Insurance Group (2628) will invest as much as HK$570 million and HK$390 million, respectively, as cornerstone investors.

The other two cornerstone investors, China Chengtong Development Group (0217) and Three Gorges Capital Holdings, will invest as much as HK$232.6 million and HK$224.9 million, respectively.

About 75 percent of net proceeds will be used for business expansion and development, 10 percent for repayment on bank loans to lower gearing ratio, and 5 percent for research.

Li Xiao-lin, vice-president of the China Datang Corporation, showed up at the conference yesterday. Li is former CEO of China Power International Development (2380) and the daughter of former Chinese premier Li Peng. In April, she was listed in the Panama Papers.

Source: The Standard
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Re: Datang Environment Industry IPO

Postby winston » Thu Nov 03, 2016 8:26 am

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Datang Environment seeks growth in new businesses and markets via Hong Kong listing

Besides operating facilities to cut pollutants for power plant owners, the company plans to enter the so-called energy management contract business, by helping coal-fired power plant operators achieve savings from conserving energy.

It also wants to make inroads into the waste water and solid waste treatment business.


Datang Environment warned in its prospectus that any slowdown in the expansion of China’s coal-fired power plants would negatively affect its business.


The nation’s local governments have also set deadlines straddling the end of next year to the end of 2020 for all coal fired power plants to be retrofitted, so that emissions will not exceed standards set for power plants fuelled by cleaner burning natural gas.


Asked if this means the firm will need to find new growth drivers in a few years, Deng said Datang Environment will expand in the water and solid waste treatment industries, and seek growth in the power plant emission control business abroad.

“India has only just started to retrofit its power plants to address its chronic air pollution problems,” he said.


Source: SCMP

http://www.scmp.com/business/companies/ ... rkets-hong
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