Nov 27 U.S. solar systems installer SolarCity
Corp said it expects its initial public offering of 10.07
million shares to be priced at between $13 and $15 apiece.
At the top end of the expected price range, the offering
will raise about $151 million.
The company is selling 10 million shares, while selling
shareholders will offer 65,012 shares in the offering, it said
in an amended filing with the U.S. Securities and Exchange
SolarCity, which filed for the IPO last month, builds solar
arrays for residential and commercial customers and then sells
power back to them at rates cheaper than traditional utilities.
The company is being hailed as the alternative energy
industry's most promising IPO candidate since electric car
company Tesla Motors Inc's 2010 debut.
Companies including Google Inc and U.S. Bancorp
have provided funds to finance SolarCity's projects.
SolarCity had postponed the launch of its IPO earlier this
month due to superstorm Sandy, Thomson Reuters publication IFR
Reuters reported last week that the company expects to debut
in the public markets before the end of the year.
SolarCity was founded in 2006 by brothers Lyndon and Peter
Rive, along with their cousin, PayPal co-founder and Tesla
Motors Chief Executive Elon Musk.
Goldman Sachs, Credit Suisse and BofA Merrill Lynch are
among the underwriters to the offering.