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China Resources Power Unit to Debut in Shenzhen on July 2

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China Resources Power (HKG:0836) said its spun-off subsidiary, China Resources New Energy (SHE:001248), will begin trading on the Shenzhen Stock Exchange on July 2.

Following the listing, China Resources Power's stake in the subsidiary will decrease to 83.8%, or 81.8% if the over-allotment option is fully exercised, according to a Tuesday Hong Kong bourse filing.

China Resources New Energy will remain a consolidated subsidiary of the company.

The company aims to raise about 24.5 billion yuan in the Shenzhen initial public offering.

The listing is poised to become Asia's largest IPO for this year, Reuters reported, citing LSEG data.

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