yingli-ipo-suffers-from-poor-solar-power-sentiment

Yingli IPO suffers from poor solar power sentiment

The share price slips on debut as jittery sector sentiment persists, but the integrated player's long-term prospects are seen as attractive.

By Anette Jönsson

June 11, 2007

Yingli Green Energy was able to price its initial public offering at the bottom of the indicated range despite a sharp deterioration in sentiment for solar power stocks during the roadshow, but then had to watch the share price slide lower throughout its first trading session on Friday. The final price saw it raise $319 million through the sale of mainly new shares.

The integrated solar sector player fell 4.5% to $10.50 after fixing the price of its American Depositary Shares at $11 apiece. The share price didnÆt get higher than $10.98 in the secondary market, and the close was only two cents above the intraday low of $10.48, which is bound to create further...

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