HONG KONG — Huadian New Energy, a state-owned renewable energy producer, made waves with its initial public offering in Shanghai on Wednesday, both due to it becoming one of the biggest IPOs in the market this year, and because it reached a price 219% higher than its offering price on its first day.
Huadian New Energy’s IPO raised 18.1 billion yuan ($2.52 billion) on the Shanghai Stock Exchange. Its shares reached 10.17 yuan on Wednesday, up significantly from the public offering price of 3.18 yuan.
