EcoCeres Reportedly Files Confidential IPO Application in Hong Kong, Targeting 2024 Listing with Up to HK$7.8 Billion Fundraising

Stock News04-29 11:40

EcoCeres, which is incubated by HK & CHINA GAS (00003) and counts the company as a strategic shareholder, was previously reported at the end of last year to have abandoned plans for a UK listing in favor of Hong Kong. According to the latest information, EcoCeres has submitted a listing application to the Hong Kong Stock Exchange in a confidential manner. The fundraising size is estimated to be between US$800 million and US$1 billion (approximately HK$6.24 billion to HK$7.8 billion), with the listing potentially taking place within this year. It is reported that Deutsche Bank, HSBC, Morgan Stanley, and UBS are responsible for advancing EcoCeres' listing plan. Hong Kong Stock Exchange equity disclosures show that Full Vision Capital, founded by HENDERSON LAND (00012) Chairman Lee Ka Kit, held a 2.92% stake in EcoCeres as of February 2, comprising approximately 339,200 shares. EcoCeres specializes in using 100% waste feedstocks to produce sustainable fuels and green molecules, and promotes their innovation and commercialization. Its main products include Sustainable Aviation Fuel (SAF) and Hydrotreated Vegetable Oil (HVO), which help reduce carbon emissions in industries such as aviation and road transport.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment