Huaneng Renewables To Restart $1B IPO

Huaneng Renewables, the wind- power unit of China Huaneng Group, is planning to relaunch its initial public offering.

Huaneng Renewables, the wind- power unit of China Huaneng Group, is planning to relaunch its initial public offering (IPO), Bloomberg reports. The company may downsize the offering by about 20% to $1 billion.

Huaneng had previously shelved its IPO plans due to unexpected and excessive market volatility. Morgan Stanley, China International Capital and Macquarie Group have been appointed to manage the sale.

Click here for the story from Bloomberg.