China Hydroelectric IPO raises US$96m.

China Hydroelectric priced its Monday IPO of 6 million units at US$16 per unit, representing a 2.9 million increase over its original offering size but a price within the expected pricing range of US$15-17 per share, reported BusinessWeek. The company, which operates and develops hydropower plants in China, began trading on the New York Stock exchange under the ticker symbol "CHC." The company’s owns 11 hydropower projects and has a controlling interest in a twelfth. The gross proceeds of the offering were US$96 million and will be used for acquisitions of additional power companies and the construction of new facilities. Shares ended trading Monday at US$13.90.