US$223 million IPO for Chinese solar module company

    | BY

    Candice Mak

    Trony Solar raised US$223 million in its initial public offering (IPO) and international offering on the Hong Kong Stock Exchange. The Shenzhen-based company…

    Trony Solar raised US$223 million in its initial public offering (IPO) and international offering on the Hong Kong Stock Exchange.

    The Shenzhen-based company is one of the world's top producers of thin-film solar power photovoltaic modules. Underwriters of the transaction include JP Morgan Asia-Pacific, ICBCI Securities and CLSA. Private equity funds ICBC International and Shikumen provided pre-IPO financing to Trony Solar, and the company has secured two cornerstone investors, China Huadian Group and Chen Fashu.

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