Trony Solar Cancels IPO

The Chinese amorphous silicon solar panel maker Trony Solar has postponed its IPO. The company had planned to go public last week.

Analysts say the Shenzhen-based company, which has posted increased revenue and profits compared to 2008, has likely postponed its initial public offering due to concerns about future profit growth.

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