Three Gorges New Energy IPO Is Approved!

Keywords: Three Gorges New Energy


On April 23, 2021, with the approval of China Securities Regulatory Commission, China Three Gorges New Energy (Group) Co., Ltd. (hereinafter referred to as “Three Gorges New Energy”) of China Three Gorges Group Co., Ltd. was approved for IPO, which is a key step towards landing in the capital market. So far, the listing of Three Gorges New Energy has officially entered the countdown. Next, Three Gorges New Energy and its lead underwriter will negotiate with Shanghai Stock Exchange to determine the issuance schedule and publish the prospectus.

According to the pre-disclosed prospectus in October 2020, on the premise of meeting the regulatory provisions such as the minimum issue ratio of the listing place, the number of new shares issued by Three Gorges New Energy will not exceed 8.571 billion shares, that is, not more than 30% of the total share capital of the company after issuance. After deducting the issuance expenses, the net amount of the raised funds will be used for the construction of offshore wind power projects and to supplement the working capital.

Source: Three Gorges

Edited and translated: minds:connected