Trina Solar Ltd., a solar manufacturer based in China, has filed for an initial public offering on the New York Stock Exchange, under the ticker symbol “TSL.”
Trina will be the second Chinese solar company to go public on a US exchange, following on Suntech’s (NYSE: STP) successful IPO on NYSE last December.
The company filed to sell 5.3 million at an estimated price range of $13.50-$15.50 a share to raise about $77 million in the IPO.
The company plans to use the proceeds to purchase raw materials, complete a solar-cell manufacturing plant and expand production lines, to expand research and development efforts and for general corporate purposes.
Suntech Power supplies solar cells to Trina Solar. For the nine months ended Sept. 30, the company earned $7.8 million on revenue of $75.7 million.
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