Huaneng Renewables, the wind- power unit of China Huaneng Group, is planning to relaunch its initial public offering (IPO), Bloomberg reports. The company may downsize the offering by about 20% to $1 billion.
Huaneng had previously shelved its IPO plans due to unexpected and excessive market volatility. Morgan Stanley, China International Capital and Macquarie Group have been appointed to manage the sale.
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