First Solar Inc. (FSLR) Soars On Debut
Shares of First Solar Inc. (FSLR.O: Quote, Profile, Research), a maker of solar power modules using a proprietary semiconductor technology, on Friday rose more than 23 percent in its market debut.
Shares of the company surged 23.7 percent to close at $24.74 on the Nasdaq.
On Thursday, the company raised $400 million with a 20 million share offering that sold for $20 per share, compared with a $17 to $19 forecast.
The offering, which gave the company an initial market capitalization of about $1.4 billion, was increased from an initial 17.5 million shares.
Paul Leming, analyst at Soleil Securities Group, said First Solar is a "well-positioned company in a high-growth market."
Shares of the company surged 23.7 percent to close at $24.74 on the Nasdaq.
On Thursday, the company raised $400 million with a 20 million share offering that sold for $20 per share, compared with a $17 to $19 forecast.
The offering, which gave the company an initial market capitalization of about $1.4 billion, was increased from an initial 17.5 million shares.
Paul Leming, analyst at Soleil Securities Group, said First Solar is a "well-positioned company in a high-growth market."
Labels: First Solar Inc., FSLR, IPO
posted by Stock Administrator @ 7:54 PM
1 Comments:
At 12:44 PM ,
FreeStocksTips said...
This stock is making a new high today.
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