hot-ipo-for-chinese-solar-power-company

Hot IPO for Chinese solar power company

Offer price set at the top of the range following strong demand from a variety of long-only funds.
Canadian Solar priced its initial public offering at the top end of the $13 to $15 range for a total deal size of $115.5 million after strong demand from investors.

Helped by the fact that the initial allocations had to be scaled back quite a bit, investors remained keen on the company when it started trading on Nasdaq last night. At one point the stock was quoted as high as $16.73, or 11.5% above the IPO price, but by 3pm New York time it had retreated to around $15.98 for a more modest 6.5% gain.

Market watchers say investors were drawn to the company because of upbeat prospects for the sector and because it is...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222