Biz Scene: Market

Huaneng powers up

Huaneng Power International Inc, China's largest power producer, has completed trials and started operating a 600-mw coal-fired power unit.

The new unit boosted the company's total equity power capacity to 29,387 megawatts, the Beijing-based company said in a statement to the Shanghai Stock Exchange yesterday.

The power producer said that its electricity output rose 11 percent to 124.5 billion kilowatt-hours in the first nine months.

NY listing

China Nep-star Chain Drugstore Ltd filed with US regulators to raise up to $250 million in an initial public offering of American depositary shares (ADS) on the New York Stock Exchange.

The company, which says it is the largest retail drugstore chain in China based on the number of directly operated stores, said Goldman Sachs (Asia) LLC and Merrill Lynch & Co are underwriting the IPO.

(China Daily 10/19/2007 page15)