March 11, 2022
Chinese state-owned power company China Three Gorges (CTG) is considering an initial public offering (IPO) for its subsidiary in Brazil to raise funds for its expansion plans across Latin America, Bloomberg reported.
CTG Brasil could earn $2 billion in a share sale on the B3 stock exchange in São Paulo near the end of the year, although the company has not yet put a size on the deal, Bloomberg said, citing sources familiar with the company's plans.
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Chinese power company could earn $2 bln to fund expansion plans in Latin America