eton-solar-postpones-gdr-sale

E-Ton Solar postpones GDR sale

Second company linked to alternative energy to suffer in two days as investors are becoming more focused on valuations.
TaiwanÆs second largest manufacturer of solar cells, E-Ton Solar Tech, called off its $150 million Citigroup-led GDR offer early Friday after failing to attract enough demand within the allowed price range.

A source close to the company said E-Ton Solar, which designs and manufactures photovoltaic PV solar cells that convert sunlight directly into electricity, plans to return for another attempt once the market is in a better condition.

The Taiwan-based company was the second issuer linked to the alternative energy and fuel sector that was forced to cancel a share offering last week, throwing some doubt on what has so far seemed to be an insatiable investor interest in companies involved in the development of...
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