Taiwan's E-Ton Solar Tech launches GDR offer

The solar cell manufacturer hopes strong growth prospects will compensate for a high valuation as it seeks $150 million from international investors five months after domestic IPO.

Five months after its domestic initial public offering on the second board, TaiwanÆs second largest manufacturer of solar cells, E-Ton Solar Tech, is on the road trying to raise another $150 million from the sale of global depositary receipts GDRs.

Citigroup is the sole arranger of the offering, which is looking to tap into strong investor demand for alternative energy-related assets as well as expectations that the solar power sector will continue to support earnings growth rates in...

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