Money: China's SDIC says receives government approval for London IPO - PressFrom - United Kingdom
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MoneyChina's SDIC says receives government approval for London IPO

14:55  11 august  2019
14:55  11 august  2019 Source:   reuters.com

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HONG KONG/ LONDON , July 24- China ' s state-backed energy firm SDIC Power Holdings has hired banks to list in London via the newly-minted Stock The source also said SDIC 's plans are the most advanced as the company has obtained board approval for the listing and appointed banks to handle

HONGKONG/ LONDON (Reuters) – China ’ s state-backed energy firm SDIC Power Holdings <600886.SS> has hired The source also said SDIC ’s plans are the most advanced as the company has obtained board approval for Irish parliament calls on government to thwart EU-Mercosur deal.

China's SDIC says receives government approval for London IPO © Reuters/NEIL HALL Pedestrians leave and enter the London Stock Exchange in London SHANGHAI (Reuters) - China's state-backed energy firm SDIC Power Holdings <600886.SS> has received government approval to issue 10% of its share capital as Global Depositary Receipts (GDRs) on the London Stock Exchange, the company said in a statement on Saturday.

SDIC Power said that it had received the green light from government regulator, the State-owned Assets Supervision and Administration Commission.

However, its plan, which corresponds to less than 678.6 million A-shares, still needs further approvals from shareholders as well as British and Chinese securities regulators, it added.

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China ' s state-backed energy firm SDIC Power Holdings has hired a pool of three banks to list in London via the newly-minted Stock The source also said SDIC ’s plans are the most advanced as the company has obtained board approval for the listing and appointed banks to handle the process.

HONG KONG/ LONDON (Reuters) - China ' s state-backed energy firm SDIC Power Holdings has hired a pool of three banks to list in London via the The source also said SDIC 's plans are the most advanced as the company has obtained board approval for the listing and appointed banks to handle

China's SDIC says receives government approval for London IPO © AP Reuters reported last month, citing sources, that SDIC Power had hired Goldman Sachs , HSBC and UBS to help it list in London via the newly-minted Stock Connect scheme, in a boost for Britain's status as a financial centre ahead of Brexit.

The sources said that SDIC Power, which has a market value of 57 billion renminbi (£7 billion) in Shanghai, was looking to raise between $500 million and $1 billion from the GDRs sale.

(Reporting by Brenda Goh; Editing by Kim Coghill)

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