(Yicai Global) Sept. 26 -- Shenzhen-listed Titan Wind Energy intends to issue global depository receipts on the Six Swiss Exchange to raise funds to build more factories that make wind power equipment.

The renewable energy firm is looking to get listed on the principal stock exchange of Switzerland to raise funds to construct an engineering equipment plant in Germany and another one on the southeastern coast of China, the Shanghai-based company said in a statement recently, without disclosing more details about the plan. Titan Wind produces wind towers and components such as wind turbine blades, as well as operates wind farms.

Chinese companies have accelerated their GDR issuance lately as Europe is becoming an attractive listing destination for them. This year, nearly 20 firms have released their plans to issue GDRs overseas. Five Chinese companies have raised more than USD2.1 billion on stock exchanges in Zurich and London this year, according to data previously released by research institution Dealogic. Meanwhile, Chinese enterprises listed in New York have garnered less than USD400 million in total.

Titan Wind's share price [SHE: 002531] rose 0.2 percent to close at CNY13.41 (USD1.90). The stock price is still nearly 30 percent down this year.

Editor: Emmi Laine, Xiao Yi