Written on Fri, 03/19/2010 - 7:17am
By Chip Brian
3/19/2010-Dow Jones reported Friday that Trina Solar (NYSE:TSL) priced its offer of at least 7.9 million American depositary shares at a 1.4% discount to Thursday's close as it raises funds for expansion.
The depositary shares were priced at $20.25 each; there are nearly 70 million currently outstanding.
Each ADS represents 50 of the company's ordinary shares, which have quintupled over the past year.
Trina also tapped equity markets in the summer by selling 5.2 million ADS, also looking to raise cash for expansion efforts.
