The Hong Kong and China Gas Company's (0003) EcoCeres, a producer of sustainable fuel, has reportedly planned to apply for a confidential listing in Hong Kong, aiming to raise about US$800 million (HK$6.27 billion) to US$1 billion as early as this year.
Deutsche Bank, HSBC (0005), Morgan Stanley, and UBS will work on its Hong Kong initial public offering.
The Hong Kong-based company was set up by Towngas, with investment from Full Vision Capital, which was founded by Peter Lee Ka-kit, the chairman of Henderson Land Development (0012). Full Vision Capital currently holds 339,200 shares of EcoCeres, accounting for 2.93 percent of the total, according to an exchange filing.
EcoCeres' business focuses on the innovation and commercialization of renewable fuels and green molecules, which are produced from 100 percent waste-based feedstocks. Its products, principally, sustainable aviation fuel and hydrotreated vegetable oil, can reduce greenhouse gas emissions for hard-to-abate sectors, such as aviation and road transportation.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓
