China's LDK plans $300 mln Nasdaq listing -paper http://today.reuters.com/news/articleinvesting.aspx?view=CN&storyID=2006-10-03T005137Z_01_HKG310211_RTRIDST_0_MANUFACTURING-CHINA-LDK.XML&rpc=66&type=qcna
Mon Oct 2, 2006
HONG KONG, Oct 3 (Reuters) - Chinese solar power equipment maker LDK Solar Hi-Tech plans to raise about US$300 million in a listing on the U.S. Nasdaq stock market next year, the South China Morning Post reported on Tuesday.
LDK Solar would join several other mainland solar power companies that plan to list in New York to cash in on soaring global demand for energy, which has helped push oil prices to record highs and has made alternative energy sources more economically viable. Solar cell maker Yingli Solar plans to raise about US$400 million in a U.S. listing, while Trina Solar Energy and Linyang Solarfun aim to raise between US$100 million and US$150 million in IPOs, the newspaper said.
Jiangxi province-based LDK would award a mandate for the share sale in about two weeks, the newspaper quoted market sources as saying.
New regulations governing the transfer of assets overseas required for a listing in New York had forced some Chinese solar firms to delay their IPOs from this year to next year, it added.
Shares in China's Suntech Power Holdings Co. Ltd. (STP.N: Quote, Profile, Research) have surged 78 percent since it raised $396 million in a New York listing last December.
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