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Goldwind tries again with IPO in HK
Source: Xinhua |
00:23 UTC+8 September 28, 2010
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XINJIANG Goldwind, China's leading wind turbine maker listed in Shenzhen, restarted its initial public offering in Hong Kong yesterday, seeking to raise up to US$916 million, after an aborted plan in June this year.
In a statement filed to the Hong Kong stock exchange, Goldwind said it would sell 395.29 million new H shares. Of them, some 39.53 million shares - or 10 percent of the total new H shares - would go to the public in Hong Kong while the other 90 percent would go to international markets.
Goldwind has set a price range of HK$15.98 (US$2.06) to HK$17.98 for the new H shares. The IPO has an over-allotment option of 15 percent of the shares, or 59.29 million shares.
Goldwind shares are expected to debut in Hong Kong on October 8, according to the statement. The company said it would use the IPO proceeds to build more factories and expand overseas.
China International Capital Corp, JPMorgan, Citigroup, Goldman Sachs and Haitong Group are joint book runners and joint lead managers.
Xinjiang Goldwind had originally aimed to launch its IPO in June this year, which was halted "in light of the deterioration in market conditions and recent unexpected and excessive market volatility."
Goldwind, headquartered in Urumqi, capital of Xinjiang Uygur Autonomous Region, was set up in 1998. Its main business includes production and sale of complete wind turbines and components, technology transfer and application, technical consulting in the manufacture of wind turbines, and construction and operation of wind farms.
Goldwind had bought a production license in 1997 to produce 600-kilowatt wind turbines from Germany's Jacobs Energie GmbH, now part of global turbine manufacturer REpower Systems AG. In 2001, it signed another license agreement with REpower to make 750-kw wind turbines.
In December 2007, Goldwind became the first renewable energy company on Chinese mainland to launch an IPO on the Shenzhen Stock Exchange and raised 1.75 billion yuan (US$261 million) by selling 10 percent of its expanded share capital.
By the end of 2009, Goldwind has installed over 5,500 units of wind turbines. In 2009, Goldwind was No. 5 wind turbine maker globally by newly installed capacity.
In a statement filed to the Hong Kong stock exchange, Goldwind said it would sell 395.29 million new H shares. Of them, some 39.53 million shares - or 10 percent of the total new H shares - would go to the public in Hong Kong while the other 90 percent would go to international markets.
Goldwind has set a price range of HK$15.98 (US$2.06) to HK$17.98 for the new H shares. The IPO has an over-allotment option of 15 percent of the shares, or 59.29 million shares.
Goldwind shares are expected to debut in Hong Kong on October 8, according to the statement. The company said it would use the IPO proceeds to build more factories and expand overseas.
China International Capital Corp, JPMorgan, Citigroup, Goldman Sachs and Haitong Group are joint book runners and joint lead managers.
Xinjiang Goldwind had originally aimed to launch its IPO in June this year, which was halted "in light of the deterioration in market conditions and recent unexpected and excessive market volatility."
Goldwind, headquartered in Urumqi, capital of Xinjiang Uygur Autonomous Region, was set up in 1998. Its main business includes production and sale of complete wind turbines and components, technology transfer and application, technical consulting in the manufacture of wind turbines, and construction and operation of wind farms.
Goldwind had bought a production license in 1997 to produce 600-kilowatt wind turbines from Germany's Jacobs Energie GmbH, now part of global turbine manufacturer REpower Systems AG. In 2001, it signed another license agreement with REpower to make 750-kw wind turbines.
In December 2007, Goldwind became the first renewable energy company on Chinese mainland to launch an IPO on the Shenzhen Stock Exchange and raised 1.75 billion yuan (US$261 million) by selling 10 percent of its expanded share capital.
By the end of 2009, Goldwind has installed over 5,500 units of wind turbines. In 2009, Goldwind was No. 5 wind turbine maker globally by newly installed capacity.
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