China Ming Yang Wind Power Group Ltd., a wind turbine manufacturer based in China, has announced that its initial public offering (IPO) of 25 million American Depositary Shares (ADS), each representing one ordinary share of Ming Yang, was priced at $14 per ADS. The ADS will begin trading on the New York Stock Exchange today under the symbol ‘MY.’
The underwriters have a 30-day option to purchase up to an aggregate of approximately 3.7 million additional ADS from Ming Yang to cover over-allotments.
Morgan Stanley, Credit Suisse and Band of America Merrill Lynch are acting as joint bookrunners for the offering.
SOURCE: China Ming Yang Wind Power Group Ltd.