July 25, 2011 / 11:31 PM / 8 years ago

China's Sinohydro plans $543 mln Shanghai IPO

SHANGHAI, July 26 (Reuters) - China’s Sinohydro Corp plans to raise up to 3.5 billion yuan ($543 million) in a share offering in Shanghai and is awaiting approval from the securities watchdog, the firm said on Tuesday.

The China Securities Regulatory Commission said in a separate statement it would review on Friday whether to approve the IPO plan.

Sinohydro said it planned to issue no more than 10.1 billion shares and the funds raised would be used for equipment purchases and investment in clean energy projects. ($1 = 6.445 yuan) (Reporting by Fayen Wong and Yixin Chen; Editing by David Chance and Jonathan Hopfner)

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