Wed, Apr 18, 2012 - Page 12 News List

DelSolar to debut on main bourse May 9

By Kevin Chen  /  Staff reporter

DelSolar Co (旺能光電), a solar cell and module maker, yesterday said it plans to debut its shares on the nation’s main bourse next month to tap local capital markets.

The Hsinchu-based company said it is scheduled to list its shares on the Taiwan Stock Exchange on May 9, adding that the planned main bourse debut would also enhance its global visibility, according to a press release.

However, DelSolar did not say in the release how many shares it planned to issue nor at what price. The company has twice scrapped plans to list on the main bourse during the past two years, citing unfavorable market conditions.

DelSolar’s shares are currently traded on the smaller Emerging Stock Market, a preparatory board for Taiwan’s two main bourses, and they closed 1.01 percent higher at NT$20 yesterday. Over the past 12 months, the stock has dropped 64.64 percent on the Emerging Stock Market.

DelSolar is a unit of energy-saving device maker Delta Electronics Inc (台達電). It has a combined production capacity of 600 megawatts in solar cells at its plants in Taiwan and China and a 180 megawatt capacity in solar modules.

The company posted a net loss of NT$2.54 billion (US$86.1 million) last year, or a loss of NT$10.16 per share, as solar panel prices plummeted amid a glut. Revenue totaled NT$9.72 billion last year, down 15.89 percent from the previous year, company data showed.

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