HOPEWELL Holdings has signed 14 letters of intent to build power stations in the Pearl River Delta, according to chairman Gordon Wu Ying-sheung.
If the projects go ahead, they will be handled by subsidiary Consolidated Electric Power Asia (CEPA) which is to be listed on the stock market next month.
The flotation will be the biggest, and one of the most complicated, new flotations on the Stock Exchange of Hong Kong.
The combined Hong Kong and overseas offer will take place over two years and will be worth more than $6 billion. The combined offer includes a public sale in Hong Kong and placements in the United States, Europe and Asia.
Eight groups late last week offered to take up 32 per cent of the combined public offering of CEPA or 40 per cent of a placement connected to the offering, according to Hopewell.
The verbal commitments were made by subsidiaries or affiliates of Cheung Kong, Sun Hung Kai Properties, Peregrine Investment, Hysan Development, the Search group, Kanematsu and three unnamed parties.
