A private run energy manufacturer from China, Huaneng Power International, is in the procedure for executing a worldwide equity issue to raise funds for the construction of new power plants. The business is intending to record the new shares through an American Depositary Receipt program on the New York Stock Exchange.
The company has recently reduced the price of the issue due to poor market conditions and investor opposition to the price range stated in the preliminary prospectus. HPI's management must determine whether the new offer price and selection of listing exchange is fair in light of recent market events and the political, economic, social and technological environment in the PRC.
Publication Date: 03/05/1998
This is just an excerpt. This case is about Finance
