In Brief

Guodian flotation a first for mainland power firms

China Guodian (Group) Corp looks set to be the first of the mainland's national independent power producers (IPP) to go public after mandating investment banks to handle a planned flotation that aims to raise at least US$1 billion, according to sources. The company, set up last year by five national IPPs as a result of China's power reform, had hired Morgan Stanley and China International Capital Corp as global co-ordinators for the issue, they said.

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