OREANDA-NEWS. July 26, 2011. Sinohydro Corp, a state-owned hydropower engineering and construction company, announced Tuesday that it is awaiting approval from China's securities regulator to launch a USD 543 million initial public offering on the Shanghai Stock Exchange.

Sinohydro said it planned to issue up to 10.1 billion shares and would use the listing's proceeds to purchase equipment and invest in clean energy projects.

Set up in the 1950s, the company has operations in more than 50 countries, with a special focus in Asia, Africa and the Middle East, and focuses on five key business lines: construction, engineering consultancy, electric and mechanical equipment, investment and real estate. The China Securities Regulatory Commission said in a separate statement that it would review Sinohydro's listing plan on Friday.