Chinese heat pump maker wants U.S. investors

In New York, Nobao Renewable Energy Holdings Ltd., based in Shanghai, China, filed a registration statement on Form F-1 with the U.S. securities regulator for an initial public offering of up to $300 million of American Depositary Shares (ADSs). The company wants its ADSs listed on the New York Stock Exchange under the symbol NRE. Nobao began manufacturing its own ground source heat pump modules in its facilities in Gongqing City, Jiangxi Province in 2009, two years after it began operations using modules sourced from Europe.