BEIJING, March 3 (Reuters) - Himin Solar Energy Group, China's top maker of solar water heaters, plans an initial public offering of mainland-listed A shares next year, its president, Huang Ming, said on Tuesday.
The company may also consider an overseas listing, Huang told Reuters ahead of the start of the country's annual parliament meeting.
Huang had said in the spring of last year that the company planned to list domestically in 2008 or 2009, although in comments in December on the company's IPO plans he declined to give a timetable.
He said on Tuesday that the company would invest more than 1 billion yuan ($146 million) this year and estimated that its production capacity would double by the year-end.
The company also foresaw a more than 40 percent rise in sales this year, compared with less than 30 percent growth last year, he said.
Himin Solar announced in December that it had secured a nearly $100 million investment from Goldman Sachs (GS.N) and China's CDH Ventures. ($1=6.843 Yuan)
Showing posts with label Himin Solar Energy. Show all posts
Showing posts with label Himin Solar Energy. Show all posts
Monday, March 9, 2009
Friday, December 12, 2008
Goldman Sachs, CDH invest nearly 100 mln usd in China's Himin Solar
12.12.08
BEIJING (XFN-ASIA) - Goldman Sachs and CDH Investment have jointly invested nearly 100 mln usd in Himin Solar Energy Group, based in eastern China's Shandong province, the three parties said.
Huang Ming, chairman of Himin, said at a media briefing that the funds would be used to help fuel the company's growth and finance research and development.
The deal was initially announced in early 2008, but was delayed due to the financial crisis, said Huang.
Himin will seek to float A-shares, Huang told reporters.
'The timing of a listing is not entirely up to us,' he said, adding that some 300 companies are in the queue for regulatory approval.
Huang declined to disclose the stake that Goldman Sachs and CDH have secured.
A source close to the matter told XFN-Asia that the stake is around 15 pct.
'Goldman Sachs and CDH will continue to fund Himin Solar if Himin continues to expand,' Goldman Sachs (Asia) managing director Zhang Yi said at the briefing.
Himin, China's top maker of solar water heaters, plans to set up marketing and logistics centers in Xi'an, Wuhan and Hangzhou. The company has a major R&D center in Qingdao.
The company is seeking to expand its market by 50 to 100 pct next year.
BEIJING (XFN-ASIA) - Goldman Sachs and CDH Investment have jointly invested nearly 100 mln usd in Himin Solar Energy Group, based in eastern China's Shandong province, the three parties said.
Huang Ming, chairman of Himin, said at a media briefing that the funds would be used to help fuel the company's growth and finance research and development.
The deal was initially announced in early 2008, but was delayed due to the financial crisis, said Huang.
Himin will seek to float A-shares, Huang told reporters.
'The timing of a listing is not entirely up to us,' he said, adding that some 300 companies are in the queue for regulatory approval.
Huang declined to disclose the stake that Goldman Sachs and CDH have secured.
A source close to the matter told XFN-Asia that the stake is around 15 pct.
'Goldman Sachs and CDH will continue to fund Himin Solar if Himin continues to expand,' Goldman Sachs (Asia) managing director Zhang Yi said at the briefing.
Himin, China's top maker of solar water heaters, plans to set up marketing and logistics centers in Xi'an, Wuhan and Hangzhou. The company has a major R&D center in Qingdao.
The company is seeking to expand its market by 50 to 100 pct next year.
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