Chinese media reported that Shenzhen Energy Group, which supplies 75% of the electricity consumed by Shenzhen Special Economic Zone, plans to raise as much as US$500 million via a listing in Shenzhen. The planned listing will be handled by JP Morgan and is scheduled for the second half of 2004, according to the reports. The listing would value Shenzhen Energy at US$2 billion with plans to sell 25% of the company, which owns five power plants in Shenzhen and one in Anhui province.
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