China's Shandong International Power Development (SIPD) - which scrapped its H-share offering three years ago - has revived its flotation plans and is hoping to list in Hong Kong by the end of the year.
One of the power firm's original joint-sponsors, Peregrine Capital, is to be replaced by fellow investment bank Morgan Stanley which will co-ordinate the offering alongside Goldman Sachs.
It is understood SIPD will begin an international roadshow by the end of this month.
SIPD cancelled its three billion yuan (about HK$2.78 billion) flotation in 1994 following a poor response from international investors to other Chinese power stocks - New York-listed Shandong Huaneng Power Development and Huaneng Power International.
Investors shied away from the stocks on fears the firms would not be able to meet forecast rates of return. At the time, Beijing was keeping a tight grip on tariff rises in an attempt to curb inflation.
SIPD, owned by Shandong Power Bureau and Shandong International Trust and Investment Corp, said in May last year it was considering a preference share issue of US$250 million to finance plant construction.
