Goldwind pockets USD 879m from IPO

(ADPnews) - Oct 7, 2010 - Chinese wind turbines maker Xinjiang Goldwind Science & Technology (SHE:002202) raised HKD 6.82 billion (USD 879m/EUR 629.5m) from its initial public offering (IPO) in Hong Kong.

The company sold some 395.3 million common shares priced at HKD 17.98 apiece.

Proceeds will be used for the construction of production units, developments of more advanced wind turbines, expansion in the US, Australia and Europe as well as for the repayment of certain bank loans.

Goldwind shares are to start trading on the Hong Kong Stock Exchange on October 8.

(HKD 1 = USD 0.129/EUR 0.092)

Choose your newsletter by Renewables Now. Join for free!