Chinese wind-power producer to seek U.S. IPO

From China Knowledge:

Goldwind Science and Technology Co. Ltd., the largest Chinese manufacturer of wind-power generators, is seeking a listing on the U.S. stock market to fund an expansion plan of increasing its sales by eight times to RMB 4 billion by 2008.

According to Hong Kong newspaper The Standard, the company hopes to raise about US$200 million on the Nasdaq.

China aims to have 20 gigawatts of installed wind power capacity by 2020, compared to 1.26 gigawatts last year. Giving his reasons for the listing, Wu said: “Wind power companies need strong financial backing, a clean public image and a good brand.” [Full Text]

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