PE-backed Sunshine Oilsands prepares for Hong Kong IPO
Sunshine Oilsands, a Canadian oil exploration company backed by Hong Kong private equity firm Cross-Strait Common Development Fund as well as several Chinese state-owned enterprises, could raise up to $700 million through an IPO in Hong Kong. This implies a valuation of up to $2.8 billion for the entire company.
Sunshine Oilsands plans to sell new shares representing 25% of its expanded capital, Reuters reported, citing a source with direct knowledge of the situation. The IPO is expected to launch on February...
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