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Bloomberg
China Water Environment Group Ltd, backed by the nation’s state-owned investment holding company, is considering an initial public offering in Hong Kong that could raise more than $500 million, according to people familiar with the matter.
The water treatment company is working with advisers on a listing that could take place as soon as in the second half of this year, said the people, declining to be identified as the information is not public.
China Water Environment Group, founded in 2013, runs underground wastewater treatment plants across 19 cities in the country including Beijing and Shanghai, according to its website.
State Development & Investment Corp bought into China Water Environment Group last year and is now the biggest shareholder with a 43% stake. Citic Private Equity Funds Management Co is the second-biggest shareholder.