China Wind Equipment Supplier Eyes $1.2B IPO

A Chinese equipment supplier for the wind power industry is planning a massive initial public offering on the Hong Kong exchange, according to a Reuters report, which quotes "sources close to the deal."

Xinjiang Goldwind Science & Technology Co Ltd reportedly wants to raise up to $1.2 billion by selling about 15% of company shares in a range of between HK$19.80 and HK$23.

The company’s shares already trade in Shenzen, where they have gained 27% this year. 

Chinese International Capital Corp forecast Goldwind’s net profit this year to jump to 2.4 billion yuan ($351.4 million), a 36.7% increase from 2009. An additional 26% increase to 3 billion yuan is forecasted for 2011.

Growth is being driven by China’s booming wind industry, as the government aims to achieve 100 GW of installed wind capacity by 2020. 

Read the full story at the link below.

(Visited 3,116 times, 2 visits today)

Post Your Comment

Your email address will not be published. Required fields are marked *