Solarfun and Trina Solar IPO
There were two new solar IPOs this week, that didn't really got nice receptions from the market but should still be interesting to watch.
Solarfun Power Holdings (SOLF) produces photovolatic cells.
Solarfun Power Holdings Co. Ltd. plans to sell 12 million American depositary shares between $11.50 and $13.50 per ADS in an initial public offering.
Each ADS represents five common shares.
Solarfun started trading today with a 20% drop, probably because the high pricing was already a warning note to many investors these last days.
After the market re-evaluates this stock, we will analyze it's future potential, so it's better to just keep away until it stops falling.
Trina Solar (TSL) produces integrated solar power products and will offer 5.3 million shares at $13.50 - $15.50 per share. Estimated net proceeds of $67.4 million will be used to purchase raw materials, complete construction of manufacturing facilities and for general corporate purposes.
Trina Solar had its second session today, with shares falling 6.8%, again not a good sight for new Chinese solar energy companies.
Meanwhile SunTech Power, also a Chinese company, is actually having the best performance of the whole group.
posted by IntoBlogs at
8:11 PM
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