After Cutting I.P.O. Price, SolarCity Leaps in First Day of Trading

SolarCity may not have raised as much in its initial public offering than it had once hoped. But at its lowered offering price, the solar power company found more than a few takers.

During the first day of trading, the company’s stock jumped as much as 59 percent. The stock closed on Thursday at $11.79, or 47.4 percent above its offering price of $8. That valued SolarCity at $861 million.

The strong market debut followed a few days of difficulty for SolarCity and its underwriters, none of whom fully prepared for issues in bringing a clean technology company to market.

SolarCity, whose backers include Tesla’s founder, Elon Musk, prides itself on being different from other companies in the solar sector. It finances and installs rooftop solar systems in exchange for long-term monthly payments from its customers and prefers to think of itself as an energy company, rather than just a solar company. The solar leases typically run 20 years.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Roof Tech – E Mount AIR

Roof Tech - E Mount AIR

The most compact versatile rail-less PV mounting system under the sun. Instead of placing solar panels on top of long rails, simply attach E Mount AIR to rafters or the roof decking. Once panels are fastened to the roof, the system array is electrically bonded. The result is a visually seamless PV installation that stands the test of time. - Truly "One With The Roof". - PE stamped cert. letters available, UL 2703 Classified, ASTM 2140 fully waterproof. The one and only with integrated flexible flashing certified by the ICC! All the best quality. Only from Roof Tech