AE News
China's Goldwind wants US share float
03:49 a.m. 06/20/2006 Provided by
By Alison Leung
HONG KONG (Reuters) - China's top homegrown maker of wind-power generators, Goldwind Science and Technology Co. Ltd., is pursuing a U.S. IPO to bankroll an expansion and a hoped-for eight-fold surge in sales as it seeks to capitalize on Beiing's increasingly strident calls for cleaner energy.
Goldwind, based in the remote northwestern region of Xinjiang, said it is in talks with Morgan Stanley (MS), Goldman Sachs (GS), Deutsche Bank and Citigroup (C), hoping to take them on as financial advisors ahead of a listing.
Chairman Wu Gang told Reuters in a telephone interview from Beijing he was hoping for 4 billion yuan ($500 million) in revenue in 2008, adding he had not decided on a capital-raising target nor a deadline for a public float.
