Nov 20, 2014 - Hong Kong-based solar power company Sky Solar Holdings Co Ltd (NASDAQ:SKYS) has wrapped up its its initial public offering (IPO) on the Nasdaq, raising net proceeds of about USD 46.1 million (EUR 36.7m).
In a statement on Tuesday, the Chinese firm said it had sold 6.35 million American depositary shares (ADSs), each equal to eight ordinary company shares. The stock was sold at a price of USD 8 apiece. Underwriters of the offering exercised in full their over-allotment option to buy an additional 828,750 ADSs.
The proceeds from the IPO will go to support Sky Solar’s projects, including shovel-ready projects in Japan, Chile and Uruguay, the company said previously.
Roth Capital Partners acted as the book-runner of the placement, while Northland Securities was hired as co-manager. Sky Solar's shares started trading on the bourse on November 13.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.