Venture-Backed Sky Solar Plans $173M US IPO

Login to View

Hong Kong-headquartered solar park developer Sky Solar Holdings, Ltd., backed by IDG-ACCEL China Capital, has filed for an IPO on the NASDAQ to raise as much as US$172.5 million, according to a securities filing.

The company is planning to sell 12.5 million American Depository Shares (ADS) at US$10 to US$12 apiece.

IDG-ACCEL China Capital, a venture fund established jointly by IDG Capital and Accel Partners, bought convertible promissory notes issued by Sky Solar totalling US$5 million in 2012. A year later, IDG-ACCEL received US$5.9 million convertible promissory notes as replacements of the earlier issuance.

China Money Network

UNLOCK DATA
Subscribe & Access the Best Data and Intelligence on Chinese Venture Capital and Tech


Register Now

Want to read this important story?

Access thousands of news articles and data posts over the past 9 years!


Already have an account or paid subscription? Log in


RELATED NEWS



LEAVE A REPLY