Chinese investors lap up Chongqing Water IPO
- From: Vol 11, Issue 4 (April 2010)
- Category: General
- Region: Asia
- Country: China
- Related Companies: Beijing Origin Water, Chongqing Water Group, Duoyuan Global Water, Fortis, New World Holdings, Suez Environment and Tri-Tech Holding
Following its March listing, Chongqing Water Group is now the largest quoted water company in China. It was a triumphant return to form for home-grown water IPOs.
Investor demand for environmental stocks and a relatively cheap valuation ensured that shares in Chongqing Water Group (CWG) surged by 75% following the company’s RMB3.49 billion ($510 million) partial IPO on 17 March.
The group, which provides water and wastewater services to more than eight million residents in the Chongqing urban area, issued 500 million new shares at ...
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