CECEP to list on Shanghai Exchange
CHINA: China Energy Conservation and Environmental Protection Group Wind Power (CECEP) has been approved by the China Securities Regulatory Commission to launch its first share offering.
It has installed a total of 1.4GW grid-connected wind turbine units by the end of 2013. The firm reported a turnover of CNY1.08 billion last year, of which about CNY 1.06 billion ($ 173 million) or 98.1% come from wind.
When the company launches the offer on the Shanghai Stock Exchange in June, it will become the first major wind farm developer listed on the country's A-share market.
Other major wind developers, such as Longyuan Electric, Huaneng Renewables and Datang Renewable Power have been listed as H-shares on the Hong Kong Stock Exchange.
A company on China's mainland can listed on the Shanghai and Shenzhen stock exchanges. The result is an A-share, which is traded in the Chinese yuan.
The same company may also be listed at the Hong Kong stock exchange but this will result in an H-share that is traded in other currencies such as HK dollars or US dollars.
Goldwind is also listed on the A-share market. And other major A-share listed power generating companies such as Huadian Power International, Huaneng Power International and SDIC Power Holdings have minor wind power business.
CECEP Wind Power is a state-owned company, in which the China Energy Conservation and Environmental Protection Group (CECEP) has a controlling stake. The firm was founded in January 2006 and has focused on the development, operation & maintenance of wind farms.