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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 - 01/15
19.2 CNY   +0.10%
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

China's Yangtze Power to raise up to $3.4 bln in London listing

09/23/2020 | 07:29am EST

Sept 23 (Reuters) - China Yangtze Power Co Ltd on Wednesday launched a secondary London listing to raise up to $3.4 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. (Reporting by Muvija M; editing by Jason Neely and Bernadette Baum)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA YANGTZE POWER CO., LTD. 0.10% 19.2 End-of-day quote.0.21%
LONDON STOCK EXCHANGE PLC -2.04% 9134 Delayed Quote.1.40%
THE GOLDMAN SACHS GROUP, INC. -2.23% 301.01 Delayed Quote.14.14%
THG PLC -3.27% 740 Delayed Quote.-5.13%
UBS GROUP AG -0.44% 13.465 Delayed Quote.7.98%
All news about CHINA YANGTZE POWER CO., LTD.
2020CHINA YANGTZE POWER : Profit, Revenue Rose in 3Q
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2020China Yangtze Power Prices London IPO at $26.46 per GDR
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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
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2020China Yangtze Power Seeks to Raise Up to $3.40 Billion in London Listing
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2020China Pacific Insurance to press on with London listing under connect scheme
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More news
Financials
Sales 2020 54 500 M 8 411 M 8 411 M
Net income 2020 23 724 M 3 661 M 3 661 M
Net Debt 2020 102 B 15 738 M 15 738 M
P/E ratio 2020 18,1x
Yield 2020 3,59%
Capitalization 437 B 67 386 M 67 383 M
EV / Sales 2020 9,88x
EV / Sales 2021 9,62x
Nbr of Employees 4 129
Free-Float 23,6%
Chart CHINA YANGTZE POWER CO., LTD.
Duration : Period :
China Yangtze Power Co., Ltd. Technical Analysis Chart | 600900 | CNE000001G87 | MarketScreener
Technical analysis trends CHINA YANGTZE POWER CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 23,05 CNY
Last Close Price 19,20 CNY
Spread / Highest target 48,4%
Spread / Average Target 20,0%
Spread / Lowest Target -0,52%
EPS Revisions
Managers and Directors
NameTitle
Ming Shan Lei Chairman
Shengshi Yang Chairman-Supervisory Board
Ping Yuan Zhan Chief Financial Officer
Chong Jiu Zhang Independent Director
Zhen Bo Ma Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CHINA YANGTZE POWER CO., LTD.0.21%67 386
EDP RENOVÁVEIS, S.A.1.10%24 310
HUANENG LANCANG RIVER HYDROPOWER INC.-2.47%12 084
NORTHLAND POWER INC.1.93%7 379
NEOEN1.75%6 574
SCATEC SOLAR ASA2.46%6 478