taiwans-eton-solar-tech-launches-gdr-offer

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 the high double, or even triple digits for some years yet.

Indeed, with oil prices continuing to hover around $75 per barrel, it seems demand for less expensive and renewable energy sources can really only...
¬ 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 subscription (2-5 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 subscription (2-5 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