Tag: followon solar

The Chinese solar power company raises close to $203 million of new capital for debt repayments, while the chairman realises $39 million by selling a small portion of his holdings. The deal is launched before the opening of US trading on Friday and prices at a 4.55% discount to the previous day's close. The solar cell manufacturer could raise about $150 million based on current prices, but bookbuilding will start only if early feedback is positive. The solar wafer manufacturer prices its follow-on at a 1.3% discount after the share price falls 14.7% during marketing. The $266 million debut follow-on is priced at a 2.2% discount but triggers a 5.6% rally in the secondary market. LDK draws strong demand for its IPO but erases most of its debut gains. Trina's share price continues to fall after it prices a follow-on at a 2.5% discount. LDK and Yingli start their IPO processes as China Sunergy is set to price its initial offering at the top and Trina Solar files for a follow-on.