By Olivia Oran and Nichola Groom
Dec 11 Solar panel installer SolarCity Corp
has postponed its initial public offering set to price
on Tuesday, according to an underwriter and a market source.
The San Mateo, California-based company had intended to
price 10.1 million shares at a range of $13 to $15.
It was not immediately clear why SolarCity delayed its
A representative for SolarCity was not available for
Although the clean technology sector has suffered some high
profile flameouts with the shuttered solar company Solyndra and
the bankruptcy of battery maker A123 Systems, SolarCity had been
considered the alternative energy industry's most promising IPO
candidate since electric car company Tesla Motors Inc's
Tesla's founder and chief executive, Elon Musk, is
SolarCity's chairman and the first cousin of its co-founders,
Lyndon and Peter Rive.
SolarCity's IPO underwriters include Goldman Sachs, Credit
Suisse and Bank of America's Merrill Lynch.
The company was scheduled to trade on the Nasdaq on
Wednesday under the ticker "SCTY."