EcoCeres taps banks for possible Hong Kong listing, Bloomberg reports

Hong Kong-based renewable fuels company EcoCere has selected investment banks including Deutsche Bank, HSBC (0005), Morgan Stanley and UBS to work on a potential Hong Kong initial public offering that could raise about US$1 billion (HK$7.8 billion), Bloomberg reported, citing people familiar with the matter.

The listing plan has not been finalised and key details such as deal size and timing remain subject to change, the people said. A transaction could take place as early as this year, according to the report.

EcoCeres was set up by Hong Kong & China Gas (0003), known as Towngas and Bain Capital.

Bloomberg previously reported that EcoCeres had dropped plans for a listing in the UK, shifted its focus to Hong Kong and held discussions with the city’s stock exchange.