Power plant builder raises $1.8 billion

China Energy Engineering Corp, a State-owned builder of power plants, and an existing investor raised $1.8 billion from a Hong Kong initial public offering, people with knowledge of the matter said.

The Beijing-based company and China's National Council for Social Security Fund sold 8.8 billion shares at HK$1.59 (20 cents) apiece, the low end of a marketed range, said the people, who asked not to be identified as the information is private. New shares accounted for about 90.9 percent of the sale.

China Energy Engineering's sale brings the amount raised through Hong Kong IPOs this year to $31.4 billion, the highest since 2010, data compiled by Bloomberg show. The four biggest share sales in the city this year came from Chinese State-owned enterprises seeking to bolster their capital bases.