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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Yangtze Power Co., Ltd.    600900   CNE000001G87

CHINA YANGTZE POWER CO., LTD.

(600900)
  Report
End-of-day quote. End-of-day quote Shanghai Stock Exchange - 01/20
19.1 CNY   -1.55%
2020CHINA YANGTZE POWER : Profit, Revenue Rose in 3Q
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2020China Yangtze Power Prices London IPO at $26.46 per GDR
DJ
2020China's Yangtze Power to raise up to £2.7 billion in London listing
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

China's Yangtze Power to raise up to £2.7 billion in London listing

09/23/2020 | 07:46am EST

China Yangtze Power Co Ltd on Wednesday launched a secondary London listing to raise up to $3.4 billion(£2.7 billion), cementing a strong post-summer period for stock market listings and providing a boost for financial ties between Britain and China.

In what would be the biggest deal under a Shanghai-London stock connect scheme, Yangtze Power said it plans to list 110 million global depositary receipts (GDRs) on the London Stock Exchange between $26.46 and $30.95 apiece.

This sets the targeted proceeds at between $2.91 billion and $3.40 billion. The deal is set to price on Wednesday and to list on Thursday, one of the most rapid timetables for a stock market listing.

"This deal has been in the works for a good while yet, but it is encouraging that it is going ahead in spite of an uncertain political backdrop," said a source familiar with the matter. "Regular listings of this nature are going to help financial ties between the countries."

In December last year, China blocked cross-border listings between the Shanghai and London bourses because of political tensions with Britain over the Hong Kong protests, sources told Reuters.

Since then -- and especially in light of tensions with the United States -- China has been keen to revive the scheme, and China Pacific Insurance Co completed a $1.8 billion secondary London listing in June.

The deal will also help bolster the European market for stock market listings, which took a battering in the first half of the year, but has come back strongly since summer.

The Hut Group completed a high-profile London listing last week and a number of different IPOs are being marketed across the continent.

Yangtze Power is the world's largest hydropower company with a market capitalisation of $64.9 billion in Shanghai.

Goldman Sachs, UBS, Huatai Financial Holdings and CLSA are global coordinators on the offering.

By Abhinav Ramnarayan and Muvija M


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA YANGTZE POWER CO., LTD. -1.55% 19.1 End-of-day quote.-0.31%
LONDON STOCK EXCHANGE PLC -0.07% 9130 Delayed Quote.1.42%
THE GOLDMAN SACHS GROUP, INC. -1.27% 290.47 Delayed Quote.14.14%
THG PLC 0.73% 755.5 Delayed Quote.-3.85%
UBS GROUP AG 0.57% 13.295 Delayed Quote.6.01%
All news about CHINA YANGTZE POWER CO., LTD.
2020CHINA YANGTZE POWER : Profit, Revenue Rose in 3Q
DJ
2020China Yangtze Power Prices London IPO at $26.46 per GDR
DJ
2020China's Yangtze Power to raise up to £2.7 billion in London listing
RE
2020China's Yangtze Power to raise up to $3.4 bln in London listing
RE
2020China Yangtze Power Seeks to Raise Up to $3.40 Billion in London Listing
DJ
2020CHINA YANGTZE POWER CO., LTD. : half-yearly earnings release
2020CHINA YANGTZE POWER : Water levels at China's Three Gorges near maximum after fl..
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2020CHINA YANGTZE POWER : Record floods raise questions about China's Three Gorges D..
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2020China's CPIC boosts IPO market with $1.8 billion London listing
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2020China Pacific Insurance to press on with London listing under connect scheme
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More news
Financials
Sales 2020 54 500 M 8 430 M 8 430 M
Net income 2020 23 724 M 3 670 M 3 670 M
Net Debt 2020 102 B 15 774 M 15 774 M
P/E ratio 2020 18,0x
Yield 2020 3,61%
Capitalization 434 B 67 183 M 67 188 M
EV / Sales 2020 9,84x
EV / Sales 2021 9,58x
Nbr of Employees 4 129
Free-Float 23,6%
Chart CHINA YANGTZE POWER CO., LTD.
Duration : Period :
China Yangtze Power Co., Ltd. Technical Analysis Chart | 600900 | CNE000001G87 | MarketScreener
Technical analysis trends CHINA YANGTZE POWER CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 23,05 CNY
Last Close Price 19,10 CNY
Spread / Highest target 49,2%
Spread / Average Target 20,7%
Spread / Lowest Target 0,00%
EPS Revisions
Managers and Directors
NameTitle
Ming Shan Lei Chairman
Shengshi Yang Chairman-Supervisory Board
Ping Yuan Zhan Chief Financial Officer
Chong Jiu Zhang Independent Director
Zhen Bo Ma Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CHINA YANGTZE POWER CO., LTD.-0.31%68 104
EDP RENOVÁVEIS, S.A.3.07%24 848
HUANENG LANCANG RIVER HYDROPOWER INC.-3.59%12 003
NORTHLAND POWER INC.3.00%7 456
SCATEC SOLAR ASA5.98%6 704
NEOEN2.23%6 622