* SDIC weighs GDRs sale in London under Stock Connect link
* State-owned power firm aims to raise $600 to $800 million
* China's Huatai only listing so far under new scheme
(Adds details on capital raise, context)
By Noor Zainab Hussain and Pamela Barbaglia
LONDON, Nov 19 (Reuters) - Chinese power generation group
SDIC is pressing ahead with plans to launch an
offering of global depositary receipts (GDRs) in London under a
link with the Shanghai exchange, defying a dismal season for
stock listings in Europe.
The offering would include newly issued GDRs representing
underlying "A" shares in the firm, the company said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191119:nRSS9041Ta
in a statement.
If successful, SDIC will make its London debut in December,
becoming the second Chinese firm to float in Britain under the
Stock Connect link with the Shanghai exchange.
It would also be a bright spot for the London Stock
Exchange, which has seen a number of initial public offerings
(IPOs) cancelled or postponed amid market uncertainty.
Indian special effects firm DNEG and Kazakh finance firm
Kaspi.kz were the latest companies to pull their London listing
plans.
Reuters reported in July that SDIC had hired banks to list
in London via the Shanghai-London Stock Connect scheme, in a
boost for Britain's status as a financial centre ahead of
Brexit.
SDIC Power, which has a market value of $7.9 billion, is
looking to raise between $600 and $800 million from the sale, a
source familiar with the deal told Reuters.
The proceeds will be used to help expand SDIC's renewable
energy business overseas and pay down offshore debt.
Goldman Sachs International, UBS AG London Branch and HSBC
Bank plc are acting as joint global co-ordinators and joint
bookrunners for the offering which was previously expected to
raise as much as $1 billion.
SHANGHAI STOCK LINK
The company, which invests in, constructs and operates
electric power plants, has a presence in Britain through its
ownership of Red Rock Power, a Scotland-based wind farm
operator.
On July 3, SDIC said its board had approved a resolution to
sell its GDRs in London.
"Through this offering, we will gain better access to the
international capital markets," Chairman Zhu Jiwei said.
Chinese brokerage Huatai Securities finalised
its London listing in June, raising more than $1.5 billion, but
there had been concerns that not many companies would follow its
lead.
Britain wants to offer Chinese companies an attractive
trading environment as it sees cooperation with Beijing as
critical after Brexit. Earlier this year it launched a
much-anticipated link with the Shanghai exchange.
Under the scheme, Chinese companies can list depositary
receipts pegged to their Shanghai-listed shares, while British
companies can issue shares on the Shanghai Stock Exchange.
($1 = 7.0229 Chinese yuan renminbi)
(Reporting by Noor Zainab Hussain and Pamela Barbaglia; Editing
by Rachel Armstrong and Jan Harvey)