Chinese Biodiesel Producer Targeting $200M IPO
14 July 2006
The South China Morning Post reports that Chinese biodiesel producer Gushan is seeking to raise US$200 million in an initial public offering in Hong Kong before the end of the year. Gushan would be the first biodiesel firm to list in the territory.
Gushan first launched its biodiesel products in 2001. The company has four production lines with a combined capacity of 140,000 tonnes per year (about 42 million gallons US), and uses both waste fats and cooking oils as well as vegetable oils (rapeseed, soy, peanut, sunflower).
With plants in Sichuan, Hebei and Fujian, the company plans to expand into Beijing, Shanghai and Guangdong.
The paper reported that Gushan has hired Credit Suisse to manage the share sale.
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