Tuesday, May 8, 2007

China Sunergy File for IPO

China Sunergy Co. Ltd., via operating subsidiary Nanjing PV, makes photovoltaic (PV) cells used in the manufacture of solar energy panels, filed with the Securities and Exchange Commission for an initial public offering of up to $100 million in American Depositary Shares.
The company's Wednesday filing didn't disclose how many shares will be offered, nor did it provide an estimated price range for the offering.
China Sunergy said it intends to use the net proceeds from the IPO to purchase raw materials, expand manufacturing facilities, expand research and development efforts and for general corporate purposes and acquisitions.
Merrill Lynch & Co., Cowen & Co. and Jefferies & Co. are listed as underwriters for the offering.
The company has applied to list on the Nasdaq Global Market, under the symbol CSUN.

No comments: