Neo Solar prices GDR at maximum 10% discount

Taiwanese solar cell manufacturer Neo Solar encounters significant headwinds, including a 20.9% drop in its share price during marketing, but is still able to raise $132.4 million.

Neo Solar prices GDR at maximum 10% discount

Neo Solar Power Corp, a Taiwanese maker of high-efficiency solar cells, has raised $132.4 million from the sale of its first ever global depositary receipts GDRs.

The solar power sector has been hard hit this year amid significant uncertainty about government subsidies in various markets and the outlook for the global economy in general, and the eight days when Neo Solar was marketing its transaction were no exception. In fact, when the deal...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES