China Power share offer draws Tamasek, Henderson

The Singapore government's Temasek Holdings and Hong Kong property giant Henderson agreed to buy up to 20% of shares offered in China Power International Development's initial public offering, the South China Morning Post reported, quoting sources close to the deal. The commitments would give each party about 3% of China Power's enlarged share capital reportedly. Henderson acknowledged its Henderson Land Development unit would be making a US$25 million investment. China Power set a below-market selling price for the 990 million shares offered, a move said to heighten interest. About 90% of shares on offer have been allocated for institutional investors. China Power International hopes to raise up to HK$2.57 billion (US$ US$329.48 million).