Harbin Power Equipment Co, China's second-largest power gear provider, and the country's social security fund are selling up to about US$147 million (HK$1.15 billion) worth of shares in the company at a discount of 3 to 6 percent.

Harbin Power and the National Council for the Social Security Fund (NCSSF) are selling 112.59 million shares in a price range of HK$9.87-HK$10.18 each, the term sheet said.

Harbin Power is selling 102.36 million new shares while the NCSSF is selling 10.235 existing shares in a deal handled by ABN AMRO.