Solargiga cuts IPO price range, seeks up to $264 mln

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HONG KONG, Jan 17 (Reuters) - Chinese solar wafer maker Solargiga Energy Holdings Ltd lowered the price range for its Hong Kong IPO due to poor market conditions, and now seeks to raise up to about US$264 million, a source close to the deal said on Thursday.

The company, which had previously sought as much as US$292 million, is offering 422.7 million shares, or 25 percent of its enlarged share capital, at HK$4.08-HK$4.88 each, compared with an earlier range of HK$4.57-HK$5.38 each, the source said.

The institutional order book for the deal has already been filled, the source said. BNP Paribas BNPP.PA is sponsoring the deal.

(Reporting by Kennix Chim; Editing by Anne Marie Roantree)