HONG KONG (XFN-ASIA) - LDK Solar Hi-Tech, a China-based manufacturer of solar power equipment, plans to raise 300 mln usd in an initial public offering on the Nasdaq stock market next year, the South China Morning Post reported, quoting sources.
LDK management met with investment banks last week, including UBS, Morgan Stanley and Credit Suisse, and is expected to award a mandate for the sale in about two weeks, the paper said.
The company, based in Jiangxi province, has a yearly production of 100 megawatts (MW) and plans to increase that to 1,000 MW by the end of the decade, it added.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com
Thursday, October 05, 2006
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