China wind power group in $1.2b IPO
Tuesday, 1 June 2010
HONG KONG, May 31 (Reuters): China's second-largest wind turbine maker, Xinjiang Goldwind Science & Technology Co Ltd, plans to raise up to $1.2 billion in a Hong Kong initial public offering, sources close to the deal said.
The offering will test the appetite for renewable energy firms in a market heavy with property and financial companies. The Hong Kong stock exchange said earlier this year it would mine mainland Chinese and international markets to keep its listing momentum.
Goldwind's attempt at a Hong Kong IPO could mark the largest offering by a Chinese wind company since the $2.2 billion listing in December of the nation's biggest wind-power producer, China Longyuan Power Group Corp.
"Goldwind's IPO is set to test the market's appetite for renewable plays," said Jackson Wong, investment manager at Tanrich Securities.
The offering will test the appetite for renewable energy firms in a market heavy with property and financial companies. The Hong Kong stock exchange said earlier this year it would mine mainland Chinese and international markets to keep its listing momentum.
Goldwind's attempt at a Hong Kong IPO could mark the largest offering by a Chinese wind company since the $2.2 billion listing in December of the nation's biggest wind-power producer, China Longyuan Power Group Corp.
"Goldwind's IPO is set to test the market's appetite for renewable plays," said Jackson Wong, investment manager at Tanrich Securities.