BREAKING NEWS

China's SDIC Power confirms intention to float on London Stock Exchange

China's SDIC Power confirms intention to float on London Stock Exchange
FILE PHOTO: A power station of the State Development & Investment Corporation (SDIC) is reflected in a lake in Tangshan, Hebei province, China, August 22, 2018. REUTERS/Thomas Peter -
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THOMAS PETER(Reuters)
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LONDON (Reuters) – Chinese power generation group SDIC Power Holdings <600886.SS> launched plans to offer global depositary receipts in London on Tuesday, saying it expects to complete the deal in December this year.

The Shanghai-listed company said the London offering, which comes under the London-Shanghai Connect scheme, will represent up to 10% of the total ordinary share capital of the company.

Goldman Sachs, UBS and HSBC are the joint global coordinators on the transaction.

(Reporting by Abhinav Ramnarayan, editing by Louise Heavens)

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