Nexolon to debut IPO in Korea

South Korean Nexolon Co Ltd is looking to raise KRW 90.5 billion (USD 76m/EUR 57m) in its initial public offering (IPO) after it priced its stock at KRW 4,000 apiece, below the KRW 6,700-8,000 price range announced earlier.

The solar wafer maker is selling 22.6 million new shares on the Korea Exchange to fund capacity expansions. It is looking to bolster its capacity to 1.7 GW by the end of 2011 in order to meet rising solar-power equipment demand.

Nexolon's stock will start trading on the Korea Exchange on October 14.

Latest News