IPO Coming For Top China Wind Turbine Company Sinovel

China’s biggest wind turbine producer Sinovel plans to raise over $1 billion in an IPO according to China Daily.  China IPO’s always garner lots of interest, often times whether they’re profitable or not so Sinovel should do quite well considering it is profitable and growing.  They’re expected to grow profits about 30% this year.

China’s 3rd largest wind energy company Huaneng Renewables scrapped plans for an IPO in Shanghai late last year so success isn’t guaranteed, but the appetite for IPO’s has increased since a year ago.  No word yet on whether Sinovel will trade as an ADR on a US exchange as well.

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