Chinese solar firm eyes $250 mln Nasdaq IPO

Reuters: Chinese solar equipment maker Qiangsheng Photovoltaic Technology plans to raise about $250 million in a Nasdaq stock market listing to fund its breakneck pace of expansion, the latest debut there by a Chinese renewable energy firm.

The fledgling firm, one of the first to make cells and panels using emerging thin-film technology, aims to boost capacity to 500 megawatts by 2010, even though its first production line will come onstream only this month with a capacity of 25 megawatts, Chairman Sha Xiaolin told Reuters in a telephone interview.

Qiangsheng, one of a coterie of private solar technology firms seeking cash as they try to capitalize on the central government’s campaign to expand renewable energy use, wants to tap markets at a time of global turmoil, as investor fears of a U.S. recession wallop bourses….

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