China’s Yingli eyes $400 mln Nasdaq listing -paper

July 7, 2006

HONG KONG, July 7 (Reuters) – Chinese solar power equipment maker Yingli Solar plans to raise about US$400 million through a initial public offering on Nasdaq by early 2007, a Hong Kong newspaper citing market sources reported on Friday.

The South China Morning Post quoting a person familiar with the situation said the offering size of Yingli Solar would be similar to that of another solar equipment maker, Suntech Power Holdings Co. Ltd. (STP.N: Quote, Profile, Research), which raised US$396 million through a listing on the New York Stock Exchange last December.

The newspaper also said Yingli Solar’s offering would be twice the size of Focus Media Holding’s (FMCN.OQ: Quote, Profile, Research) US$197 million sale last year, the biggest mainland IPO so far on Nasdaq.

It gave no further listing details.

Solar energy is powering a new wave of overseas listings hopefuls from China as they bank on strong global demand for alternative energy sources. (US$1=HK$7.8)

Source: Reuters

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