Oaktree-backed solar firm Shoals rises after US$1.9 billion IPO
Brian Eckhouse and Crystal Tse, Bloomberg News
We need to get past the fossil fuel age, level the playing field for renewables: Climate scientist VIDEO SIGN OUT
Solar-power components maker Shoals Technologies Group Inc. rose as much as 40 per cent in its trading debut after its initial public offering topped expectations to raise US$1.9 billion.
Shares of the Portland, Tennessee-based company, opened at US$31.30 Wednesday after selling for US$25 each in the IPO. The shares were up 28 per cent to US$31.93 at 1:56 p.m. in New York trading.
Shoals, along with an entity controlled by investment firm Oaktree Capital Management, sold 77 million shares Tuesday, after marketing 70 million shares for US$22 to US$23.
According to a report by Bloomberg, TCW Group Inc, Los Angeles based unit of Societe Generale (OTC: SCGLY) has sued its ex investment chief Jeffrey Gundlach and three other ex employees after more than half of TCW’s fixed income professionals joined Gundlach’s new firm. TCW has sought $200 million. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Solar equipment supplier Shoals Technologies and software firm Qualtrics on Monday increased the projected sizes of their initial public offerings, which could raise $3 billion combined, beefing up an already packed lineup of at least 16 IPOs scheduled this week.
A clinical diagnostics company, a software company, a solar power company and a Brazilian investor set price ranges for initial public offerings on Tuesday, with three of the four companies saying they expect to bring in at least $1 billion at midpoint.
Shoals Technologies Group, Inc Announces Launch of Initial Public Offering padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.