SinoTech Energy Limited, which offers enhanced oil recovery services in China using patented lateral hydraulic drilling technologies, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The Beijing-based company, which was founded in 2004 and booked $38 million in sales for the 12 months ended September 30, 2009, plans to list on the NASDAQ under the symbol CTE. Citi, UBS Investment Bank and Deutsche Bank Securities are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
