Chinese clean energy firm PCG Power is planning an initial public offering in Hong Kong and could file its listing application as early as August.
The company is targeting a valuation of $2.5 billion to $3 billion for the offering. The IPO size has not been determined and could change depending on market conditions.
Proceeds are expected to fund expansion in solar, energy storage, power trading and overseas markets.
Founded in 2022, PCG Power invests in, builds and operates commercial and industrial distributed photovoltaic and clean energy power stations.
Backers include Singapore state investor Temasek, Saudi Aramco's venture capital arm Aramco Ventures, China-focused NIO Capital, logistics investment firm GLP Partners and European investment group Eurazeo.
