Chinese biodiesel producer Gushan Environmental Energy Ltd. is planning an IPO on NASDAQ later this year.
The company expects to raise about $300 million. Its net profit is projected to hit $40 million in 2007, giving it a market cap of about $1.5 billion.
Established in 2001, Gushan uses waste cooking oil as a feedstock. Headquartered in Hong Kong and with three manufacturing facilities, its annual production capacity is 170,000 tons. It has plans for two more factories.
The total output of biodiesel projects under construction in China is over 3 million tons.
(Visited 1,191 times, 1 visits today)
Loading...