Friday 18 August 2017
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thefinancialexpress
2 months ago

IFC to invest $100m in IPO-bound Penyao Environmental Protection

The International Finance Corporation (IFC), the private lending arm of World Bank, has proposed to invest $100 million in Chinaand#39;s Penyao Environmental Protection Co. Ltd to support its water and wastewater treatment (WWT) projects, said IFC in a disclosure on June 16, reports Reuters. Penyao EP is a privately-held company, preparing for IPO in China. It is currently 36.12 per cent owned by chairman WANG Hongchun and his brother WANG Chunlin. The proceeds from the proposed IFC investment will be used

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