Huaneng Renewables Plans HK$2.28-HK$2.98 Price Range for Shares, SCMP Says

Huaneng Renewables Corp. plans to sell 2.48 billion shares in an Hong Kong initial public offering in the range of HK$2.28 and HK$2.98 each, the South China Morning Post said, citing an unidentified person familiar with the deal.

The wind power producer has commitments from 13 key investors for $335 million of shares, the Hong Kong-based English-language newspaper reported today. These include China Investment Corp., Temasek Holdings Pte., Angang Group, General Electric Co., State Grid Corp. and China Huadian Group, the Post reported.

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