Chinese solar farm operator delays Hong Kong IPO
Xinyi Energy Holdings cited a broader equity selloff in the country.
Bloomberg reports that Chinese solar farm owner Xinyi Energy Holdings, a unit of Xinyi Solar Holdings, is postponing its $582m initial public offering (IPO) in Hong Kong amidst a broad equity sell-off where the Hang Seng Index has fallen by 20% since January.
Sources told Bloomberg that the firm does not have a timetable for relaunching the deal. It expected to price 1.88 billion shares.
Also read: Thriving IPO scene shows signs of pressure as stock markets slump
An external representative for Xinyi Energy said she couldn’t immediately comment. Xinyi Energy marketed its shares at HK$1.89 to HK$2.42 each and expected to start trading 21 December.
Xinyi Energy’s initial solar farm portfolio has an aggregate approved capacity of 954MW spread across Hubei, Anhui, Fujian, and the Tianjin municipality.
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