Nexolon Prices IPO Shares at Below the Bottom of Marketed Range
Nexolon Co., South Korea’s biggest maker of silicon ingots and wafers used in solar cells, plans to raise 90.5 billion won ($76 million) after pricing its initial public offering below the bottom of a marketed range.
The solar-cell component producer will sell 22.6 million new shares at 4,000 won each, the Seoul-based company said in a regulatory filing to the Korea Exchange today. The company offered the stock at a range of 6,700 won to 8,000 won, arranged by Woori Investment & Securities Co.
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