"Zhong Sanxia Energy Group to Become China's Largest Domestic IPO This Year"

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] It is anticipated that China Sanxia New Energy Group, a subsidiary of the state-owned power company China Three Gorges Corporation, will become the largest initial public offering (IPO) in China this year.

According to Bloomberg on the 26th, China Sanxia New Energy Group recently announced in documents submitted to the Shanghai Stock Exchange that it plans to issue a total of 8.57 billion shares through the IPO.

Previously, Sanxia New Energy Group had stated that it aimed to raise 3.85 billion USD (approximately 4.3 trillion KRW) through the IPO last year. Bloomberg predicted that if this IPO plan proceeds as scheduled, it will surpass the record set by Tianneng Battery Group in January, which raised 697 million USD upon listing.