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BEIJING -- Huaneng Renewables Corp, the wind-power unit of China's biggest electricity producer, made a lackluster debut on the Hong Kong bourse on Friday, with its share price down 2.8 percent from the offering price to hit HK$2.43 (31 cents).
The company raised 799 million in its initial public offering in Hong Kong by selling 2.485 million shares at HK$2.5 each, compared with an original range of HK$2.28 to HK$2.98.
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The company tried to get listed in Hong Kong in December 2010, but shelved its IPO due to insufficient subscriptions.
Huaneng Renewables had a total of 3.52 million kilowatts of wind power capacity at the end of last year, and the number is expected to hit 5.1 million kilowatts by year-end.
The company reaped a net profit of 884.5 million yuan ($136 million) last year.
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