Huaneng Renewables Said to Revive $1 Billion Hong Kong IPO

Huaneng Renewables Corp., the wind-power unit of China’s biggest electricity producer, plans to revive a Hong Kong initial share sale after cutting the size of the offering by about 20 percent to $1 billion, two people with knowledge of the matter said.

The unit of China Huaneng Group Corp. aims to start trading in early June, said the people, who declined to be identified because the information is private. Huaneng Renewables scrapped its earlier plan because of unexpected and excessive market volatility, the company said on Dec. 13.