Another Chinese solar company has gone public on the U.S. markets. JA Solar Holdings Co. Ltd. (Nasdaq: JASO) raised US$225 million in an IPO that was priced above a forecast range.
The 15 million American depositary share (ADS) offering sold for $15 per share compared with a $12.50 to $14.50 forecast. Each ADS represents three common shares.
JA Solar, which manufactures solar cells, has an initial market capitalization of about US$658 million.
JA Solar is the fourth Chinese solar company to launch an IPO in the U.S., following Trina Solar Ltd. (Nasdaq: TSL), Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) and Suntech (NYSE: STP).
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