IPO activity for 2010 has already begun, with two Chinese companies scheduled to price during the week of Jan. 18. China Hydroelectric (CHC), which consolidates, operates and develops hydropower plants, plans to raise $50 million by offering 3.1 ADSs at a price range of $15-$17. At the mid-point of the proposed range, the company will command a market value of $721 million. China Hydroelectric, which was founded in 2006 and booked $35 million in sales over the last 12 months, plans to list on the NYSE under the symbol CHC. Broadband Capital is the lead underwriter on the deal.
In a smaller deal, Andatee China Marine Fuel Services (AMCF), which produces and sells blended marine fuel oil for cargo and fishing vessels, plans to raise $18 million by offering 2.5 million ADSs at a price range of $6-$8. At the mid-point of the proposed range, Andatee China will command a market value of $60 million. The company, which was founded in 2001 and booked $87 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol AMCF. Rodman & Renshaw and Newbridge Securities are the lead underwriters on the deal, which is expected to price on Thursday, Jan. 21.
