YINGLI GREEN ENERGY HLDG CO LT ADR (YGE: NYSE)
Last Price Today's Change Bid (Size) Ask (Size) Volume Trade
10.50§-0.50 (-4.55%) 10.50 x200 10.50 x900 9,328,100
Yingli Green falls from discounted price
Yingli Green Energy (YGE) priced 29 million American depositary receipts at $11, raising $319 million in its initial public offering. The stock opened at $10.80 and fell to $10.58 in the open market.
The China-based solar panel company priced its IPO at the low end of its $11-$13 range.
It's the latest in a series of Chinese solar IPOs including JA Solar (JASO), LDK Solar (LDK), China Sunergy (CSUN), Solarfun Holdings (SOLF) and Suntech Power (STP).
NEW YORK (Reuters) - Yingli Green Energy Holding Co. Ltd. (YGE.N: Quote, Profile, Research stock fell 4.55 percent in its market debut on Friday after pricing at the bottom of a forecast range late on Thursday.
The shares opened on the New York Stock Exchange at 10.80, 1.8 percent lower than the company's offering price, before falling 50 cents to close at $10.50.
The 29 million-share offering was priced at $11 per American depositary share (ADS) compared with a forecast range of $11 to $13, according to an underwriter. The offering raised $319 million.
Each ADS (American Depositary Share) represents one common share in the IPO. Underwriters were led by Goldman Sachs and UBS Securities.
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The offering price gave the company, which manufactures solar energy products, an initial market capitalization of about $1.39 billion.
Yingli Green Energy is the latest Chinese manufacturer of solar components to list on U.S. exchanges over the last year.
Over-saturation of the marketplace was a factor in the level of interest in Yingli Green's IPO, IPO experts said.
"The Chinese Solar panel companies have been extremely popular IPOs in 2006 and 2007, but many are now seeing a saturation in the market," said Scott Sweet, managing director of IPO research firm IPOboutique.com. "The supply and demand theory has now caught up to this sector."
Linda Killian, portfolio manager of IPO Plus FUND, a mutual fund advised by Renaissance Capital, said, "There are a lot of publicly-traded Chinese solar companies, and there is a finite appetite
Last Price Today's Change Bid (Size) Ask (Size) Volume Trade
10.50§-0.50 (-4.55%) 10.50 x200 10.50 x900 9,328,100
Yingli Green falls from discounted price
Yingli Green Energy (YGE) priced 29 million American depositary receipts at $11, raising $319 million in its initial public offering. The stock opened at $10.80 and fell to $10.58 in the open market.
The China-based solar panel company priced its IPO at the low end of its $11-$13 range.
It's the latest in a series of Chinese solar IPOs including JA Solar (JASO), LDK Solar (LDK), China Sunergy (CSUN), Solarfun Holdings (SOLF) and Suntech Power (STP).
NEW YORK (Reuters) - Yingli Green Energy Holding Co. Ltd. (YGE.N: Quote, Profile, Research stock fell 4.55 percent in its market debut on Friday after pricing at the bottom of a forecast range late on Thursday.
The shares opened on the New York Stock Exchange at 10.80, 1.8 percent lower than the company's offering price, before falling 50 cents to close at $10.50.
The 29 million-share offering was priced at $11 per American depositary share (ADS) compared with a forecast range of $11 to $13, according to an underwriter. The offering raised $319 million.
Each ADS (American Depositary Share) represents one common share in the IPO. Underwriters were led by Goldman Sachs and UBS Securities.
Reuters Pictures
Photo
Editors Choice: Best pictures
from the last 24 hours.
View Slideshow
The offering price gave the company, which manufactures solar energy products, an initial market capitalization of about $1.39 billion.
Yingli Green Energy is the latest Chinese manufacturer of solar components to list on U.S. exchanges over the last year.
Over-saturation of the marketplace was a factor in the level of interest in Yingli Green's IPO, IPO experts said.
"The Chinese Solar panel companies have been extremely popular IPOs in 2006 and 2007, but many are now seeing a saturation in the market," said Scott Sweet, managing director of IPO research firm IPOboutique.com. "The supply and demand theory has now caught up to this sector."
Linda Killian, portfolio manager of IPO Plus FUND, a mutual fund advised by Renaissance Capital, said, "There are a lot of publicly-traded Chinese solar companies, and there is a finite appetite
