China’s Trony Solar Ready For IPO

Dec 9 2009 | 10:31am ET

The Chinese amorphous silicon solar panel maker Trony Solar is expected to go public on the New York stock Exchange this week, with shares priced between $9 and $11.

Trony plans to offer up to 15 million American depositary shares, plus another 2.9 million shares to its underwriters, according to its Monday filing with the U.S. Securities and Exchange Commission. Trony’s shareholders plan to offer 4.5 million shares.

Assuming a price of $10 per share, the company says it expects to net $134.5 million from its offering, or $161.7 million if the underwriters buy the additional shares.

Trony has raised money from JP Morgan and Intel Capital, the investment arm of the chip giant in Santa Clara, California. Intel invested $20 million in Trony in 2008.

The solar panel maker offers products for off-grid and on-grid systems, as well as for consumer products and street lamps.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...