Trina Solar skyrockets over 100% in Shanghai STAR Market debut

Trina Solar, Shanghai Stock Exchange listing ceremony. Image by Trina Solar.

June 11 (Renewables now) - Shares in Chinese photovoltaics (PV) maker Trina Solar Co Ltd (SHA:688599) on Wednesday started trading on the STAR Market of the Shanghai Stock Exchange, gaining 110.91% in the first day.

The company became the first solar firm to get listed on the exchange's Science and Technology Innovation Board, also called the STAR Market.

At the end of 2019, Trina Solar's module shipments around the world exceeded 45 GW, while the company had a grid-connected capacity of over 3 GW and a big project pipeline.

"The company is committed to creating greater value for customers, continuing its pioneering innovation, expanding globally and seeking new market opportunities to provide ever-improving returns to shareholders, investors, customers and society," chairman and general manager Gao Jifan, said at the official ceremony.

On Thursday, the company's shares traded at CNY 17.63 (USD 2.49/EUR 2.19).

Just recently, Chinese polysilicon maker Daqo New Energy Corp (NYSE:DQ) also said it plans a listing of its principal operating subsidiary on the STAR Market.

(CNY 1.0 = USD 0.141/EUR 0.124)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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