China IPO to benefit Kingdom

30 September 2011
The Phnom Penh Post
Aid and development / Bilateral development assistance / Chinese aid / Economy and commerce / Energy / Environment and natural resources / Non-DAC members / Securities exchange (stock market) / Stock market
Chinese aid / IPO / Kamchay Hydroelectric Dam / Kampot Province / Shanghai Stock Exchange / shares / Sinohydro Group Ltd

China’s Sinohydro Group Ltd earned US$2.12 billion in an initial public offering on the Shanghai Stock Exchange, the company announced yesterday. The move came just two months before Sinohydro launches the Kamchay Hydroelectric Dam in Cambodia’s Kampot province. The company expects the IPO to help fund future projects in the Kingdom, as well as several construction works in China and abroad, Sinohydro Cambodia representative Zhao Jinhui said yesterday… The company sold 3 billion shares at CNY4.50 (US$0.70) per share, 500 million shares less than announced last week in a Shanghai Stock Exchange prospectus…

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