YINGLI Green Energy Holding Co, a Chinese maker of photovoltaic products for solar power, and its controlling shareholder may raise as much as US$377 million in a US initial public offering, according to a regulatory filing.

Yingli and Chief Executive Officer Miao Liansheng are selling 29 million American depositary receipts, or a 22.8 percent stake, at US$11 to US$13 apiece, the company said in a filing to the US Securities and Exchange Commission on Tuesday. Efforts by governments to promote cleaner energy has prompted Chinese makers of solar power products to sell shares in the United States to fund expansion. LDK Solar Co, a Jiangxi Province-based maker of multi-crystalline solar wafers, is seeking as much as US$539.8 million in the largest US IPO by a Chinese company since November 2004.