Chinese wind turbine supplier Mingyang plans $500m US listing

Mingyang Electric is planning a $500m IPO in the US next month

Wind turbine supplier Mingyang Electric is preparing to raise $500m in an initial public offering (IPO) in the US in September, reports say.

Established in 1993, Mingyang boasts total assets worth 130m yuan ($19.2m), according to the company.

The Chinese company could not be reached for further details.

It was reported that the Bank of America Merrill Lynch, Credit Suisse Group AG and Morgan Stanley are working on the deal.

Meanwhile, ZhongHang Huiten Windpower Equipment, China’s biggest maker of wind turbines, had also revealed an intention to be listed in Shanghai, and to enter the US market.

The Baoding-based manufacturer has yet to firm up plans on the size and timescale of the planned Shanghai IPO,…

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