(Corrected post from 3 minutes ago)
There is another "solar power application" company to put on the IPOWATCH LIST. Trina Solar Lt. in China has filed to come public underthe ticker "TSL" on NYSE for its ADS shares.
The company received a $40 million investment over the summer froman investor consortium led by Milestone Capital, Merrill Lynch and GoodEnergies Investments.
Merrill Lynch is listed be the lead underwriter, seeing as that theywere an investor, and co-managers are listed as Cowen & Co. andCLSA Asia-Pacific Markets.
The company had already said it planned to come public, and theyhave said at the Solar And Clean-Tech Symposium that have beenprofitable. In 2005 the company posted revenues of $27.275 million andnet income of $3.3 million. For the first 9-months of 2006 it hasposted $75.7 million and net income of $7.8 million.
It looked like the big jump from revenues from 2005 to 2006 wouldhave been an acquisition but their prospectus statement regarding thatis: Our net revenues increased primarily due to our increasedmanufacturing capacity as demand for our products remained strong……
More information can be found at www.trinasolar.com.
Jon C. Ogg
December 7, 2006
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