Chinese solar farm owner postpones IPO in Hong Kong

It cited a broader equity selloff in the country.

Bloomberg reports that Chinese solar farm owner Xinyi Energy Holdings, a unit of Xinyi Solar Holdings, is postponing its $582m initial public offering (IPO) in Hong Kong amidst a broad equity sell-off where the Hang Seng Index has fallen by 20% since January.

Sources told Bloomberg that the firm does not have a timetable for relaunching the deal. It expected to price 1.88 billion shares.

An external representative for Xinyi Energy said she couldn’t immediately comment. Xinyi Energy marketed its shares at HK$1.89 to HK$2.42 each and expected to start trading 21 December.

Xinyi Energy’s initial solar farm portfolio has an aggregate approved capacity of 954MW spread across Hubei, Anhui, Fujian, and the Tianjin municipality.

Read the full report here.