The first solar IPO in about a year began trading this morning belowthe expected range of $11 – 13/share around $10/share. Certainly not ahugely successful IPO, but holding in there at a time when solar stocksare generally struggling.
STR Holdings (STRI) makes components called solar power moduleencapsulants that protect the circuits in the solar panel. The companyis profitable and counts some big players as customers (First Solar,Sunpower, BP Solar). The company will use proceeds to pay down debtand provide a working capital cushion. Shares are now trading on theNYSE under the ticker STRI and are up about 7% from the open price.
Another solar IPO on the horizon is Trony Solar (TRO). TheChinese company makes thin film solar panels and focuses on off gridinstallations, although is expanding to on grid. The company is veryprofitable and growing quickly so should generate more interest thanthe STR IPO is. No word yet on when the stock will begin trading.