DealZone

Deals wrap: Powering up China’s IPO market

January 4, 2011

A power-generating wind turbine is seen in a wind farm of Alpiq in Le Peuchapatte in the Jura region, western Switzerland October 7, 2010. REUTERS/Michael Buholzer Sinovel, China’s top wind turbine producer, plans to raise up to $1.4 billion in one of the most expensive main board IPOs in Shanghai. The listing may well be a test for China’s IPO market, which had a mixed performance late last year.

Shares in BP hit a six-month high after reports rival Royal Dutch Shell considered a takeover bid, and that economic damages from its oil spill will be lower than forecast.

Brazil’s Petrobras offered to buy Eni’s 33.3 percent stake in Portuguese oil company Galp for 4.7 billion, business daily Diario Economico reported without citing sources.

Goldman Sachs’ old-school Facebook deal isn’t all rosy, writes Breakingviews columnist Robert Cyran.  A MarketWatch blog argues that Facebook’s valuation is insane, but not crazy.

By delaying an IPO, and the oversight an offering entails, Facebook is pursuing a strategy which was unthinkable just a few years ago, writes the New York Times.

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