Solon Drops; First Insolvency by German Listed Solar Company
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Solon SE slumped the most in eight years in Frankfurt trading after becoming the first publicly traded solar company from Germany to file for insolvency.
Solon, which in 1998 was the country’s first listed photovoltaic producer, fell 46 percent to 50.2 euro cents. The Berlin-based company filed for insolvency after failing to reach an “amicable solution” with banks and investors, it said in a statement yesterday.