China Resources New Energy Soars 137% in Shenzhen Debut After Record IPO
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China Resources New Energy’s offering is the largest ever on the Shenzhen Stock Exchange and ranks among the biggest for China’s renewable energy sector in recent years. Photo: IC
Shares of China Resources New Energy Holdings Co. Ltd. (001248.SZ) more than doubled in their Shenzhen trading debut on Thursday after the state-owned clean energy producer raised a record 24.5 billion yuan ($3.6 billion) in its initial public offering.
The spinoff from Hong Kong listed China Resources Power Holdings Co. surged 137% to close at 23.95 yuan, giving the wind and solar operator a market capitalization exceeding 300 billion yuan.
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