Sinohydro Group will commence a roadshow for its planned $2.7 billion initial public offering (IPO) in Shanghai, Reuters reports. The company intends to issue up to 3.5 billion new shares.

The Chinese state-owned hydropower engineering and construction plans to use the proceeds to fund $2.7 billion in new projects. China Securities Co. and Bank of China International have been appointed the lead underwriters for the offering.

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