Yangtze Electric Power (YEP), the company at the helm of China's 18,200MW Three Gorges hydroelectric project, has announced an initial public offering amounting to 45% of its shares, which will be floated on the Shanghai stock exchange.

In doing so, YEP hopes to raise some US$1.19B to help finance the plant’s first four commercially operating generators, valued at around US$2.26B. Shares will mostly be sold to Chinese investors.

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