German Solar Company ErSol Seeks IPO

German solar cell maker ErSol Solar Energy AG announced it will go public on the Frankfurt stock exchange.

Bookbuilding will start later in September, the company said. The IPO will finance growth of the company’s core business of mono- and multi-crystalline silicon solar cells.

ErSol also announced it acquired ASi Industries GmbH, a silicon ingot and wafer manufacturer, effective July 1. A purchase price wasn’t disclosed.

ErSol’s 2004 revenues were EUR50 million, rising to EUR33 million for the first half of 2005.