Trony shelves IPOs as US cools on solar power
Trony Solar Holdings, China’s biggest maker of thin film solar panels, postponed its New York listing on Thursday after it failed to draw investors to the $200m deal.
Trony had been marketing 19.5m American Depositary Shares at a range of $9-$11 a share, but it was unable to price the deal on schedule on Wednesday and put the process on hold a day later.
Bankers away from the deal said Trony had dropped its price target
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