Shares of Datang International Power Generation gained 71% in a Shanghai debut that may encourage more overseas-listed state giants to return to China next year, the Wall Street Journal reported. Its shares closed at US$1.46 Wednesday, up from their initial-public-offering price of US$0.85 and exceeding market expectations of a US$0.98-US$1.05 first-day close. The company, one of China's largest electricity generators by output, raised US$427.1 million after selling 500 million shares. It's Hong Kong shares jumped 11% to US$1.03. Liu Yisong, an analyst at Galaxy Securities, said the strong debut may help more overseas-listed mainland firms win approval by China's regulators to return home in the coming year.
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