Tuesday, April 1, 2008

Solargiga Energy ends flat in HK debut

Apr. 1, 2008 (China Knowledge) - Shares in Solargiga Energy Holdings Ltd<757>, China's second-largest solar wafer maker in terms of output and sale volume, ended its Hong Kong debut almost flat on Monday.

The company raised about US$127 million in the IPO that was delayed and downsized due to weak markets. The proceeds will be used for business expansion.
Its shares finished at HK$2.93 after rising as much as 6.85% at a point, slightly higher than its IPO price of HK$2.92. Only 82.6% of Solargiga's retail tranche was subscribed.
Many companies have quitted or shelved Hong Kong IPOs as investors remained cautious amid unpleasing market situation.

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