This content is from: Corner Office

CIC To Buy $60M Huaneng Shares

China Investment Corporation will acquire $60 million worth of shares in Huaneng Renewables.

China Investment Corporation (CIC) will acquire $60 million worth of shares in Huaneng Renewables, NASDAQ reports. The Chinese sovereign wealth fund will become a cornerstone investor by buying the shares in the wind-farm operator’s initial public offering (IPO) in Hong Kong.

The other eight cornerstone investors also include Singapore state-owned investment company, Temasek Holdings and Standard Chartered Bank. Beijing-based Huaneng Renewables is aiming to raise up to $988 million via the IPO.

Click here for the story from NASDAQ.

Related Content