NYSE-No history of mainland private enterprises rewritten yesterday. As the largest solar cell manufacturer in China, Suntech Power Co., Ltd. successfully listed on the NYSE. It is reported that Suntech issued a total of 26.38 million ADRs, of which 20 million shares for the new shares, the remaining shares for the company's existing shareholders. On the 29th of last month, the global roadshow, Suntech 11 US dollars to 13 US dollars of the IPO price sought after by foreign investors, the final issue price of 15 US dollars, a total funding of 400 million US dollars, so far in the United States IPO financing the largest Chinese private enterprises. It is understood that Suntech IPO lead underwriter Credit Suisse First Boston and Morgan Stanley, the other two underwriters for CLSA and SG Cowen & Co. Previously, Suntech had three Sanyo IPO options: the beginning, the intention of listing overseas is Singapore, after considering the listing in Hong Kong, a thorough investigation of professional financial companies, and the United States Nasdaq. Suntech eventually locked the NYSE as it learned about Suntech's listing plan. "Although listing on the New York Stock Exchange is relatively costly, we advocate international compliance and require the use of the New York Stock Exchange, a global platform for integrating people, money and materials." Yesterday, Suntech spokesman Zhanyuan Qing Accept the Post reporter interviewed said. According to reports, Suntech will focus the funds raised for the purchase of raw materials, expand production capacity and technology research and development. After listing, the first phase of its 30MW project invested by Luoyang Suntech Power Co., Ltd. will start on the 18th and be put into operation in 2006. Meanwhile, Suntech's headquarters is in the process of expanding its new 120 MW solar cell production line. By 2006, the company's total solar cell production capacity will reach 240 MW. Suntech Wuxi is mainly engaged in the research and development of crystalline silicon solar cells, modules and photovoltaic power generation systems. With the manufacturing capacity of 120 MW solar cells, Suntech is the top 10 solar cell manufacturers in the world. In 2004, its total revenue of 85.29 million US dollars, net profit of 19.7 million US dollars, gross margin of 29.5%.
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