Market Chatter: Towngas' Biofuel Unit Eyeing London or Hong Kong as IPO Venue

MT Newswires Live01-28

Hong Kong and China Gas or Towngas' (HKG:0003) unit EcoCeres is looking to launch an initial public offering, The Standard reported Friday, citing people familiar with the matter.

EcoCeres, backed by Bain Capital, is looking at London but has not completely ruled out Hong Kong as a potential IPO site, the report said, citing the sources.

The renewable fuel producer is looking to raise between $500 million to $1 billion from the offering, depending on the market situation, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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