A total of 29 Equity Offering deals (pending and completed) were announced in the Power & Utilities of China, in the last twelve months resulting in a total deal value of over $21,802.1 million. In the LTM period, August 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $9,282.6 million, resulting in an average deal value of $4,641.3 million during that month. On the other hand, the month of December 2021 was the most prolific in terms of deal volume, recording a total of 6 deals, resulting in an average deal value of $168.9 million during that month.
Of the 29 deals, the deal secured between Primavera Capital Group and Envision Energy Ltd, was the largest Equity Offering deal in the China Power & Utilities sector, which was valued at $600.0 million and was completed on October 21, 2021. The second-largest deal was between China Life Insurance (Group) Company and Huadian Fuxin Energy Development, while the third-largest deal was between ICBC Financial Asset Investment Co., Limited and Guangxi Guangtou Qiaogong Energy Development Co Ltd. The China Life Insurance (Group) Company-Huadian Fuxin Energy Development deal and the ICBC Financial Asset Investment Co., Limited-Guangxi Guangtou Qiaogong Energy Development Co Ltd deal were valued at $314.9 million and $125.5 million, respectively. The fourth-largest deal was between CICC Financial Trading Limited; HHLR Fund; YHG Investment, LP-Xinyi Energy Holdings Ltd valued at $99.6 million, whereas the deal between China Datang Corp; Datang International Power Generation Co Ltd-China Datang Corporation Nuclear Power Co., Ltd. valued at $33.8 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $1,173.8 million and accounted for nearly 5.38% of the total deals (by value) announced during the last twelve months.
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