China's Shouguang, Deripaska's EuroSib move to list in HK-IFR

HONG KONG Thu Jan 20, 2011 9:03pm EST

HONG KONG Jan 21 (Reuters) - China Shouguang Agricultural Product Logistic Park plans to apply to the Stock Exchange of Hong Kong in mid-February for a share listing, according to IFR.

In another listing, Oleg Deripaska-owned EuroSibEnergo, a leading Russian hydropower utility, is bringing back its $1-1.5 billion postponed Hong Kong IPO to the market, IFR said.

The company, an agricultural products market operator, aims to raise between $800 million and $1 billion from a listing in the second quarter. BOC International, JPMorgan Chase (JPM.N) and UBS AG (UBS.N) are the bookrunners.

The company, under the control of the family of Xiu Li Hawken, chairman of Hong Kong-listed Renhe Commercial, mainly provides transaction, e-commerce, logistical and value-added services to agricultural producers. Six investors, including Atlantis Investment, Blackstone Group (BX.N), Capital International and Warburg Pincus, invested $100 million each for a combined 30 percent stake in Shouguang at a 2010 price-to-earnings valuation of 18 times.

Premarketing for EuroSibEnergo is scheduled to start after the Lunar New Year holidays.

The company postponed the deal early last December, amid a weaker tone in the region's equity markets and also having had to finalise a deal to sell a cornerstone stake to China's Yangtze Power. The company plans to float 25 percent of its shares.

BOC International, Deutsche Bank (DBKGn.DE) and VTB are joint global co-ordinators of the IPO. Bank of America (BAC.N) Merrill Lynch, Credit Suisse (CSGN.VX), RBS (RBS.L), Renaissance Capital and Sberbank are bookrunners.

(Reporting by Fiona Lau; Editing by Ken Wills)