Boston, MA 04/02/2014 (usastockreports) – Photovoltaic energy solutions giant, Sunedison Inc. (NYSE:SUNE) is in the final stage of completing the separation of its semiconductor and solar operations. The company has already filed with the U.S security Exchange to offer $250 million shares of its semiconductor common stock. Sunedison has not put in place the number of shares that will be traded or the purchase price. The $250 million offering may rise or shrink depending on the market conditions.
Terms of the IPO
The top underwriters for the offering will be Deutsche Bank Securities, Goldman Sachs and Wells Fargo securities. As part of the offering, Samsung Fine Chemicals will purchase $100 million worth of Sunedison Semiconductor Limited’s ordinary shares at the IPO price. SSL on its part will purchase Samsung Electronics remaining 20% interest in MEMC Korea Company.
Sunedison Inc. (NYSE:SUNE) is set to extensively benefit from an increase in demand for solar energy and with the separation of its semiconductor business through the planned IPO, the company should be able to concentrate on its key competencies. The incoming partnerships as well as cost reduction initiatives are also expected to improve the company’s profit margins. The growth in demand for solar products in big markets like China and Japan is expected to contribute a great deal in the expected robust growth.
Sunedison Ships Over 1 GW Photovoltaic Solar Modules
Sunedison Inc. (NYSE:SUNE) has announced that it shipped over 1GW Silvantis Solar PV modules, consequently making it one of the top manufacturers of solar modules in the world. The growth in shipment for the period was driven by increased demand for high performance solar modules from Commercial business groups as well as external customers.
Production of solar modules remains a key element of Sunedison Inc. (NYSE:SUNE)’s energy business as it gears up for robust growth in the year. The company continues to achieve its production goals faster than anticipated as a result of increased dedication and commitment from its development team.