ASIA-PACIFIC

摘要

Shanghai-listed china Yangtze power has invited banks to pitch for a role in its potential sale of global depositary receipts in London through the Shanghai-London Stock Connect trading link, according to people close to the deal. The hydropower generator may sell up to 10% of the company, as has been the case with GDR offerings from other Chinese companies, but nothing has been decided as yet. Yangtze Power's A-shares closed at Rmbl7.72 last Thursday, giving it a market capitalisation of Rmb390bn (US$56.3bn). Selling a 10% stake would put the deal size at about US$5.6bn. The deal could come as early as this year. Last June, Huatai Securities raised US$1.7bn from the landmark sale of GDRs in London that marked the launch of the long-awaited trading link between Shanghai and London.