<IPO News>Huadian Fuxin (00816) to kick off IPO on Thurs with entry fee HK$3,556

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Huadian Fuxin (00816) to kick off IPO on Thurs with entry fee HK$3,556

2012-06-12 09:03:02

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Huadian Fuxin (00816), an affiliate of HUADIAN POWER (01071), intends to issue 1.5 billion H shares within the indicative price range of HK$1.6 - HK$1.76. Spending on one board lot of 2,000 shares is around HK$3,555.48. Huadian Fuxin will kick off its initial public offering this Thursday (14 June). The offer price will be set on 20 June and shares will start floating on the bourse on 28 June.

The company expects interim profit for 2012 to be not lower than RMB776 million (approx. HK$950 million), according to the preliminary prospectus document. The 2012 forward price-to-earnings ratio is 7.59 - 8.35 times.

The document also reveals that the company has introduced six cornerstone investors, who have subscribed a total of 62% of the H shares. These investors include Sinovel Wind (601558.SH) and SH ELECTRIC (02727).

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