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Nexolon Prices IPO Shares Below 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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