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Hopeland Chem-Tech Co., Ltd.
Add.: Rm. B-1708, Taaffeite International Commerce Plaza, 4th Gaoxin Road, Xi'an City, Shaanxi Province, China
Postal Code: 710075
Wechat , WhatsApp, Mobile: +86 13488269990
Tel: +86 13488269990
Email: 85xianji@85xianji.com / icec0529@163.com
Website: www.aac-machine.com |
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Sinovel 'eyes November Shanghai float' |
Date:2010/10/11 View:1541 |
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Sinovel Wind Group, China's largest wind turbine maker and the world's No 3 in terms of installed capacity, is likely to float shares on the Shanghai Stock Exchange in early November, sources familiar with the matter told China Daily.
The Dalian-based manufacturer is awaiting approval from the China Securities Regulatory Commission for its IPO, the source said, without elaborating.
Sinovel passed the commission's preliminary hearing in August, with Essence Securities as the underwriter.
Earlier this year, the Dalian State-owned Assets Supervision and Administration Commission said Sinovel would publicly issue 100 million shares, nearly 10 percent of its total stake. Sinovel aims to raise 3.5 billion yuan ($523 million), with each share at 35 yuan ($5.23).
Clean technology IPOs by Chinese companies totaled $2.2 billion so far this year compared with $2.4 billion for the whole of 2009, according to Thomson Reuters data.
For the first time, China has overtaken the United States as the most attractive country for renewable energy investment because of its capital, government will and massive market, according to a quarterly index ranking released in September by accounting firm Ernst & Young.
Interested investors are targeting China's renewable energy market, where the government is expected to spend $736 billion over the next decade, and investment in China's renewable energy sector is being poured into a number of overseas IPOs.
Three mainland alternative energy companies have successfully listed in New York and Hong Kong after raising nearly $1.5 billion in early October.
Shares of Xinjiang Goldwind Science & Technology Co, the mainland's second-largest wind-turbine maker, rose as much as 11 percent on Friday in its Hong Kong debut after raising $916 million in the IPO and pricing its shares at the uppermost level of an indicated range as investors bet on the country's strong commitment to the green energy sector.
China Ming Yang Wind Power Group, the country's largest non-State-owned wind turbine manufacturer, was able to raise $350 million, which makes it the largest green IPO by a Chinese company in the US this year.
China Suntien Co, a renewable energy company in northern China's Hebei province, is expected to raise $370 million in its Oct 13 listing on the Hong Kong Stock Exchange.
Also expected to hit Hong Kong are the new energy units of China Huaneng Group Corp and Datang Corp, the mainland's top power producers, which aim to raise more than $2 billion by floating their renewable energy units in Hong Kong. |
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