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Banks

Trony Solar plans up to $250 mln HK IPO - sources

HONG KONG, Aug 24 (Reuters) - Chinese thin-film panel maker Trony Solar Holdings Co Ltd plans to raise $200 million to $250 million from a Hong Kong initial public offering in September, sources close to the deal said on Tuesday.

The Shenzhen, China-based company originally planned to list on the New York Stock Exchange in December last year, but eventually shelved the plan due to poor market conditions.

“The company aims to ask for the Hong Kong listing committee’s approval this Thursday,” one of the sources said.

JP Morgan JPM.N is handling the deal.

China is the among the world’s largest suppliers of solar panels but uses little of what it produces domestically. With large projects having more than 12 Gigawatt (GW) of capacity in the pipeline, China could rapidly become a major market, according to European Photovoltaic Industry Association (EPIA).

Reporting by Kennix Chim; Editing by Ken Wills

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