Nobao relaunches IPO attempt

Nobao Renewable Energy has relaunched its attempt of an intial public offering in the US. Only a month after it postponed an IPO due to "market conditions", the US Securities Exchange Commission (SEC) reports that the latest IPO would raise USD300 million.

The company specializes in heat pump development and provision, with its customer base primarily in China. However the company is primarily involved in large-scale projects including heating, hot water systems and cooling for the general administrative office of Su-Tong Science and Technology Park and renewable energy heating to the Shibei high-tech industrial zone in Shanghai.