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Sinohydro raises 13.5 bln yuan in this year's largest IPO

(Xinhua)

16:48, September 29, 2011

BEIJING, Sept. 29 (Xinhua) -- Sinohydro Group Ltd., China's largest hydroelectric power plant builder, said Thursday that it has raised 13.5 billion yuan (2.11 billion U.S. dollars) so far this year from its initial public offering (IPO) on the Shanghai Stock Exchange (SSE).

Sinohydro set its IPO price at 4.5 yuan per share, the lower end of the pricing range of its 3-billion-share offering, according to a statement filed to the SSE.

Sinohydro's IPO set a record in China's domestic A-share markets this year. Its offering price indicates a 15-time price-earning ratio for the company.

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