皇冠体育app

Energy

皇冠体育app wind turbine maker plans $500m US listing

(Agencies)
Updated: 2010-08-02 15:18

Mingyang Electric, one of the five biggest wind power turbine suppliers in 皇冠体育app, plans to raise $500 million in a share sale in the United States in September, in what could be the largest such listing by a Chinese company this year, the International Financing Review reported.

Bank of America Merrill Lynch, Credit Suisse Group AG and Morgan Stanley are working on the deal.

Related readings:  皇冠体育app to become world's 3rd largest wind power producer  皇冠体育app's top wind blade maker eyes US growth  Goldwind may raise $1.2b in HK IPO  Wind taken out of turbine sales

皇冠体育app is the world's largest market for wind turbines, and domestic wind equipment manufacturers such as Mingyang supply 80 percent of the market. 皇冠体育app installed more than 13 gigawatts of wind power generating capacity last year.

Mingyang's IPO plan follows the shelving in June of a $1.17 billion Hong Kong listing by Chinese wind equipment supplier Xinjiang Goldwind Science & Technology Co Ltd. The Shenzhen-listed company pulled the offering because of fragile investor sentiment in the wake of the European sovereign debt crisis and concern about overcapacity in the sector.