Monday, July 21, 2008

Another Chinese solar company to brave U.S. IPO market

Don't know 'em, don't care.
(Alex; What is the difference between ignorance and apathy?)
From TheDeal:
GCL Silicon Technology Holdings Inc., a Chinese supplier of polysilicon and wafers used to make solar cells, today filed to attempt an IPO in the rocky U.S. market.

The offering, which would raise up to $863 million, will be underwritten by Morgan Stanley, Credit Suisse, Piper Jaffray, HSBC and Cowen & Co.

GCL may hope to emulate JA Solar Holdings Co. Ltd. [JASO], a Chinese photovoltaic cell maker (and one of GCL's customers) that holds the distinction of being the top performing IPO of 2007. But as far as the IPO market goes, 2007 seems like a distant memory....MORE