Schott Solar Reportedly Planning $740 Million IPO By End Of The Year
Media reports state that German technology group Schott is planning on making a public offering of its solar subsidiary, Schott Solar – an integrated solar energy company, which manufactures solar cells and panels – aiming to raise around €500 million (about $740 million).
Reportedly the funds will be used to fuel expansion, including Schott Solar’s recently announced plans to more than double production capacity at one of its German facilities by 2011. The planned initial public offering will mainly consist of new shares from a capital increase, according to media reports. The company has arranged several large banks to guide its IPO, including Deutsche Bank, Commerzbank and JP Morgan.
It is being reported that Schott plans to float Schott Solar in the second half of the year.