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Home > > Wind turbine news > > China wind power firm soars in stock market debut China wind power firm soars in stock market debut SHANGHAI, Dec 26 (Reuters) - A spectacular stock market listing by China¡¯s biggest maker of wind power generating equipment on Wednesday suggested global warming was finally making itself felt among Chinese investors. Shares in Xinjiang Goldwind Science & Technology Co 002202.SZ soared 264 percent from their initial public offer price to close at 131.00 yuan in their first day of trade on the Shenzhen Stock Exchange, far exceeding analysts¡¯ forecasts of a range of 90-100 yuan. Smaller Chinese stocks routinely double in their debuts, and demand for Goldwind may have been boosted by a recent pull-back in the overall share market, which has made Chinese investors see IPOs as the safest path to quick profits. But Goldwind¡¯s surge also indicated that after years in which the market focused on fast-growing banking and industrial stocks, clean energy and environmental protection were becoming important investment themes, analysts said. "The renewable energy theme is getting more popular," said Yang Jun, an energy analyst at United Securities in Shenzhen, adding that Goldwind¡¯s success and the support of China¡¯s government for green energy could prompt more such firms to list. The China-Belgium Direct Equity Investment Fund, run by Haitong-Fortis Private Equity Fund Management, a venture between China¡¯s Haitong Securities (600837.SS: Quote, Profile, Research) and Belgium¡¯s Fortis Fund Management (FOR.BR: Quote, Profile, Research), held 7.2 percent of Goldwind before the IPO and has undertaken to hold its shares for at least three years. "An increasing number of power firms in China are seeking to break out of the traditional generating methods into clean and green ways," a spokesman for Haitong-Fortis said.wind turbine,wind energy,wind power,wind generator ,wind generators,wind turbine Related Questions: 1. Wind Power Shanghai 2007 to Be Held in November 2. CNOOC to builds offshore wind power plant 3. Wind power investors plan to quit Inner Mongolia market 4. Wind power projects lure foreign investments 5. China's first offshore wind power generator ready 8. China to mass produce maglev wind power generators 9. China encourages military industrial enterprises to produce wind power generators |
