Solargiga aims to raise $127 mln in scaled-back IPO

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HONG KONG, March 11 (Reuters) - Chinese solar wafer maker Solargiga Energy Holdings Ltd, which scrapped a planned Hong Kong IPO in January, is relaunching a scaled-back listing to raise $127 million, according to a term sheet obtained by Reuters.

The company plans to sell 338.13 million shares, or 20 percent of its enlarged share capital, at an indicative price of HK$2.92 each in a deal handled by BNP paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz).

The company had earlier sought to raise as much as $292 million by selling 422.7 million shares at a range of HK$4.57-HK$5.38 each. (Reporting by Kennix Chim; Editing by Anne Marie Roantree)