A source familiar with the company said the power construction giant is targeting as much as $2 billion from the IPO but that a listing towards the very end of the year or in the first quarter of next year is now more realistic given current market conditions.
If the China Energy comes to market this year it could help Hong Kong to regain its crown as the world’s largest IPO hub.
Back in June Chinese IPOs, were raking in most of the new cash. Half of the 10 largest cash gains were from Chinese listings. IPOs on the two largest Chinese stock exchanges, located in Shanghai and Hong Kong, raised $18.4 billion, 39.6% of the world's total.
All IPOs in the Asia-Pacific region, led by the Chinese offerings, made up 46.6% of the total market, up from 19.8% at the same point last year.
Vincent Lin Senior Analyst at AMC says “Chinas IPO markets are so big, because everyone wants to get in on what might be the next Alibaba.
“Since the markets are starting to return to some sort of normalcy we are seeing more and more companies getting their filing done, in the hopes of being next in line.” Says Lin.