New stocks news | Renewable fuel producer Eslite is considering a Hong Kong IPO listing, planning to raise approximately $1 billion.

According to reports, EcoCeres, a green unicorn and environmental biofuel company incubated by HK & CHINA GAS (00003), is said to have engaged Deutsche Bank, HSBC, Morgan Stanley, and UBS to explore a possible Hong Kong IPO, planning to raise approximately $1 billion, which could take place as early as this year. Sources familiar with the matter stated that the plans are still not finalized, and details such as scale and timing may change. Representatives from EcoCeres, Bain, and the mentioned banks declined to comment. It is understood that initially, EcoCeres had considered listing on the London Stock Exchange, aiming to raise $500 million to $1 billion with an estimated valuation of around $5 billion. By the end of 2025, the company shifted its strategy and planned to first conduct an IPO in Hong Kong before pursuing a secondary listing in other markets. EcoCeres' core business involves converting biomass waste into biofuels, biochemicals, and biomaterials, specializing in the commercial production of hydrogenated vegetable oil (HVO), sustainable aviation fuel (SAF), and cellulosic ethanol. As a leading biomass refining platform in Asia, EcoCeres is leveraging technology innovation and capital support to become a key player in the biofuel industry.