taiwans-eton-solar-tech-launches-gdr-offer

Taiwan's E-Ton Solar Tech launches GDR offer

The solar cell manufacturer hopes strong growth prospects will compensate for a high valuation as it seeks $150 million from international investors five months after domestic IPO.
August 02, 2006
Five months after its domestic initial public offering on the second board, TaiwanÆs second largest manufacturer of solar cells, E-Ton Solar Tech, is on the road trying to raise another $150 million from the sale of global depositary receipts GDRs.

Citigroup is the sole arranger of the offering, which is looking to tap into strong investor demand for alternative energy-related assets as well as expectations that the solar power sector will continue to support earnings growth rates in the high double, or even triple digits for some years yet.

Indeed, with oil prices continuing to hover around $75 per barrel, it seems demand for less expensive and renewable energy sources can really only...
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