Sinovel has set a price range of 80-90 yuan per share, and will sell up to 105.1m shares, which will amount to just under 11% of its total capital. The range would represent a price for earnings ratio for Sinovel of up to 48.8.
The company plans to use the proceeds to increase production capacity for its 3MW turbine, fund new research facilities and fund expansion outside of China.
