China Resources New Energy Seeking to Raise $3.6 Billion in Record Shenzhen Listing
By Jiahui Huang
China Resources New Energy is seeking to raise up to $3.60 billion in an initial public offering, in what would be the Shenzhen Stock Exchange's largest-ever listing.
The renewable energy arm of China Resources Power Holdings is issuing 2.11 billion shares at 10.11 yuan each, according to filings. If the overallotment option is fully exercised, China Resources New Energy's total issuance would rise to 2.42 billion shares, raising a total of 24.47 billion yuan, equivalent to $3.60 billion.
That would surpass Yihai Kerry Arawana's 13.9 billion yuan listing in Shenzhen in 2020, according to Wind data.
China Resources New Energy's offering has drawn exceptionally strong retail demand. The retail offering was 683.40 times oversubscribed, with investors placing bids for about 636 billion shares, equivalent to roughly 6.4 trillion yuan at the offer price, the filings showed.
China International Capital Corp. and Citic Securities are joint sponsors of the deal.
The IPO comes amid a broader wave of listings by Chinese companies in the mainland and Hong Kong markets. Investor appetite for Chinese renewable energy assets has also has surged alongside Beijing's push to advance the country's energy transition.
China Resources Power Holdings' shares fell 0.7% in Hong Kong in Wednesday morning trading.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
June 23, 2026 23:08 ET (03:08 GMT)
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