CHINA High-Speed Transmission Equipment Group, the nation's largest maker of gears for windmills, is seeking as much as HK$2.12 billion (US$272 million) in an initial public offering, said two people with knowledge of the sale.

The Nanjing-based company plans to sell 300 million new shares, a 25 percent stake, in Hong Kong at HK$5.38 to HK$7.08 apiece. Chinese makers of wind and solar power equipment are selling shares to finance expansion as the government steps up investment in renewable energy to cut rampant pollution.