The solar power provider slashed its initial public offering from $150m to $55.2m after suspending it citing market conditions.
Sky Solar, the China-based solar energy producer backed by IDG-Accel, cut the maximum size of its planned initial public offering from $150m to $55.2m yesterday.
Sky Solar set the range for the IPO between $10 and $12 per American Depositary Share (ADS) two weeks ago and planned to raise up to $150m issuing 12.5 million shares. The company was expected to float on Nasdaq last Friday, only to suspend the IPO citing poor market conditions.
Clues to those conditions can…
