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China’s Biggest IPO This Year Looks to Be in Renewable Power

  • China Three Gorges unit gets approval from regulator
  • Funds will be used for offshore wind projects, help liquidity
The Solar-Powered Future Is Being Assembled in China
Photographer: Qilai Shen/Bloomberg
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China Three Gorges Renewables Group Co. is set for an initial public offering that could be the biggest in the country this year after securing regulatory approval.

The unit of China Three Gorges Corp. plans to sell up to 8.57 billion shares in Shanghai, it said in a prospectus filed to the Shanghai stock exchange, without giving the value of the funds to be raised. The state-owned company has received written approval from China’s securities regulator, according to a China Securities and Regulatory Commission statement Friday.