solargiga-returns-with-scaleddown-ipo

Solargiga returns with scaled-down IPO

The deal, which will be open for only two days, is offered at a fixed price allowing the solar power company to raise $127 million.
March 11, 2008
Solargiga Energy Holdings, which makes monocrystalline wafers and ingots for solar cells, has relaunched a scaled-down version of its Hong Kong initial public offering that was postponed in January. The offering comes as a bit of a surprise since the solar power sector is one of the worst hit this year, but the fact that the company has decided to go ahead suggests it is confident it will have enough buyers at the adjusted terms.

A clear sign of this is the fact that the deal is offered at a fixed price of HK$2.92 per share, which will give a total deal size of HK$987.3 million $127 million û or 56% less than...
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