Sky Solar Raises $44.2 Million in Initial Public Offering

Sky Solar Holdings Ltd., a Chinese renewable-energy developer that twice delayed listing in the U.S., raised $44.2 million in an initial public offering.

Sky Solar sold 5,525,000 American depository receipts for $8 each, according to a statement distributed by GlobeNewswire today. The Hong Kong-based company listed on the Nasdaq under the symbol SKYS.

Roth Capital Partners LLC and Northland Securities Inc. managed the offering.

Sky Solar postponed pricing on Nov. 7 and on Nov. 12, after initially seeking to raise as much as $150 million, according to regulatory filings.

Shares gained 14 percent to $9.15 at the close in New York.

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