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 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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