China’s Three Gorges energy giant said to explore public offering of Brazilian unit
RIO DE JANEIRO, BRAZIL – The Chinese energy giant is reportedly exploring an initial public offering of its Brazilian unit – looking to finance a bold expansion into Latin America. (Bloomberg)
An IPO could apparently value China Three Gorges’ Brazilian outfit at up to US$10 billion, making it an instant powerhouse in the region.
A listing is expected could happen before the end of 2022.
The China Three Gorges Corporation (CTG) is a Chinese state-owned power company, established on 27 September 1993.
The company was responsible for the construction of the Three Gorges Dam-project, the world’s largest hydroelectric power plant, that went into operation in 2008.
In September 2002, CTG established the subsidiary company China Yangtze Power, which took over operations and management of Gezhouba and Three Gorges dams.
CTG is one of the world’s largest energy companies.
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