China Everbright Capital Limited, a subsidiary of Everbright, acted as a Joint Sponsor and China Everbright Securities (HK) Limited, another subsidiary of Everbright, acted as a Joint Global Coordinator, Joint Bookrunner and Co-lead Manager for the listing of China Datang Corporation Renewable Power (“Datang Re”, stock code: 01798). Dealings of Datang Re’s shares on the Main Board of Hong Kong Stock Exchange commenced on December 17, 2010. The offer price has been determined at HK$2.33 per share. Total proceeds amounted to approximately HK$5 billion. 

 

China has named renewable energy as the most important leading industry for its economy. Supported by government policy, Datang Re is a leading wind power producer in China. The company aims to develop a 10,000-MW wind power base in Inner Mongolia based on three major wind power development zones, as well as 10 1,000-MW wind power bases in Shandong, Gansu and northeast China. The company has also developed China’s first offshore wind farm, a 101MW pilot project in Shanghai. Commenced operation in June 2010, this project is also the first large-scale offshore wind farm in Asia and developing countries. Datang Re also has solar power capacity of over 8,000MW. 

 

The listing of Datang Re is a joint project between the investment banking teams of Everbright and Everbright Securities Company Limited. The success of this large-scale listing project exemplifies the strengths and potential of their cross-border financial network and resources. 

 

The Investment Banking team of Everbright acts as sponsor, lead-underwriter or co-lead underwriter for listing projects, as well as provides financial advisory services for share placement, acquisition, merger, privatization and project finance. Datang Re is the team’s fourth sponsorship project this year, following the Main Board listing of Flyke International (stock code: 1998) and Tian Shan Development (stock code: 2118) and GEM listing of Credit China (stock code: 8207).