Huaneng Renewables, the Chinese wind farm operator, has revived plans to go public in Hong Kong, six months after cancelling an earlier effort to list.
Huaneng Renewables, China’s third-biggest wind farm operator by capacity, aims to raise $800m to $1bn, according to a person familiar with the deal.
Its initial efforts to go public foundered in December when the company abruptly cancelled a planned $1.3bn listing, blaming “excessive market volatility”. This time Huaneng Renewables will seek to woo investors with a lower price to earnings ratio. Shares could price between 13-17 times 2011 p/e ratio, said a person close to the deal, down from 15-20 times in December.