Sinohydro Prices IPO on Low End at 4.5 Yuan

(Beijing) -- Sinohydro Group Ltd. (SHE: 601669) priced its initial public offering on the low end of its price range of 4.50 yuan and 4.80 yuan per share, the company said in a filing to the Shanghai Stock Exchange on September 28.

Based on the price of 4.50 yuan per share, which represents 10.23 times Sinohydro's price earnings ratio for 2010, the company will raise 13.5 billion yuan from the IPO, according to the statement.