Two more Chinese solar companies, Yingli Green Energy Holding Co. Ltd and LDK Solar Co. Ltd, filed for U.S. IPOs late last week, for combined proceeds of about $750 million.
The will join JA Solar (Nasdaq: JASO), Solarfun Power Holdings (Nasdaq: SOLF) and Suntech Power (NYSE: STP).
The larger IPO is LDK Solar (NYSE: LDK), which hopes to raise up to $400 million on the NYSE. The company makes multicrystalline solar wafers -thin sheets of crystalline silicon – used to make solar cells.
31-year old CEO Xiaofeng Peng owns about 83% of the company, which reported $22 million in income on $73 million in sales in the first quarter. For the first quarter of 2006, LDK reported a loss of $440,000.
Yingli Green Energy (NYSE: YGE), which designs and manufactures PV modules, plans to raise up to $350 million. Liansheng Miao, 50, the company’s chairman, owns about 57% of the company.
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