From the Wall Street Journal:
U.S. IPO Vies with 4 Chinese Offerings
...Scheduled to debut on the NYSE under the symbol TRO on Thursday is Trony Solar Holdings Co. Based in Shenzhen, Trony Solar specializes in thin-film solar modules, which cost less to make than traditional solar panels. But thin-film solar is considered less efficient than traditional solar panels and requires more space to install, both of which can cause total installation costs to eclipse traditional panels.
Demand for solar products in general has decreased during the recent global financial crisis, yet production has ramped up, creating an oversupply that began at the end of 2008. As a result, solar manufacturers like Trony have faced increased pricing pressure, with its average selling prices and profit margins declining.
However, revenue at Trony has been growing rapidly on higher sales volume, with its June-ended fiscal year doubling to $79 million, and the three months ended in September up 81% to $37 million, compared to a year earlier....
From Reuters (Nov. 21):
...JPMorgan Special Situations (Mauritius) Limited and Intel Capital Corp, which currently own a combined 11.9 percent of the company, are each selling half of their shares.
The firm reported revenue of 254.6 million yuan ($37.1 million) in the three months ended September 30, up 44.8 percent from a year ago, and net profit of 72.5 million yuan, up 61.5 percent from a year ago.
Trony Solar plans to debut on the New York Stock Exchange under the ticker "TRO."
Lead underwriters for the deal are J.P. Morgan and Credit Suisse. The underwriters may purchase an additional 2.925 million shares.
The company's CIK on EDGAR is 0001474844. Here are the SEC filings, there were a couple amendments today.