China's first direct equity listing on the London Stock Exchange is back on track, with shares of Beijing Power Generation Company (Datang) expected to begin trading in March.
Sources close to the listing said Datang was expected to raise up to US$300 million in dual listings in London and Hong Kong.
Roadshows were expected to begin within two weeks.
'We are hoping to come out within the next three to four weeks, for completion some time in March, although life in China does not always happen exactly in the way you think it's going to,' a source said.
The news follows an unexpected delay in December when Datang's lead global co-ordinator, Salomon Brothers, was unceremoniously sacked over a string of disputes, including pricing of the shares.
It was replaced by Morgan Stanley, with co-leads Wheelock NatWest and Kleinwort Benson remaining in place.