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

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note