Wednesday, September 30, 2009

ReneSola Tumbles; Prices Secondary At 10.7% Discount (SOL)

We've said a few times, "Watch the balance sheets". With projections that up to half the solar players will fail in the next 1-2 years, liquidity is crucial.
From Tech Trader Daily:
ReneSola (SOL) shares are taking a hit today after the China-based solar company priced an offering of 15.5 million American depositary shares at $4.75, a discount of 10.7% to yesterday’s close at $5.32. The company has granted underwriters the option to sell another 2,325,000 shares to cover over-allotments....MORE