London Stock Exchange today welcomes SDIC Power Holdings, a leading power generation company in China, to open London’s markets for trading. The occasion marks the successful listing of the Company’s GDRs, utilising the Shanghai-London Stock Connect segment of the Exchange’s Main Market.
SDIC Power operates a diversified portfolio of projects across hydropower, coal-fired power, wind power and solar power. Among all power generation companies currently listed in China, the Company is the third largest hydropower company in terms of consolidated hydro installed capacity.
SDIC Power raised US$200.6 million and each GDR was priced at US$12.27.
With this offering, SDIC Power becomes the fourth Chinese company to list in London via the Shanghai-London Stock Connect facility following its inauguration in June last year, confirming the ever-closer relationship between UK and Chinese capital markets.
Zhu Jiwei, Chairman of the Company, stated: “We are very pleased with the highly positive response to our offering from international investors. Our enhanced access to international capital markets through the Shanghai-London Stock Connect channel will support SDIC Power’s commitment to continue to invest in, develop and operate clean energy projects, which will further implement our global growth strategy.
In particular, we intend to leverage our experience in acquiring and operating offshore wind power projects in the UK to further develop renewable energy projects overseas.”
Denzil Jenkins, Interim CEO, London Stock Exchange, said: “We are delighted to celebrate SDIC Power’s listing of GDRs on London Stock Exchange this morning. As the latest issuer to commence trading via Shanghai-London Stock Connect, SDIC Power will benefit from access to London’s global liquidity pool and established international investor base. We congratulate SDIC Power on this latest milestone for their business and look forward to playing a part in supporting their continued international expansion.”