Editorial Summary

ReneSola Ltd (NYSE: SOL) opened trading above initial public offering (IPO) pricing of $13 at US$13.72 on January 29. The days trading ranged from $12.40-13.73 before closing at $12.99. The company generated $112 million through the offering of more than nine million American depositary shares. ReneSola intends to spend approximately $70 million of the proceeds on solar wafer manufacturing facilities expansion and equipment purchases, and $35 million on polysilicon manufacturing investments, said a company securities filing. ReneSola's IPO was underwritten by Credit Suisse, Deutsche Bank, Piper Jaffray & Co., Lazard Capital Markets, and Oppenheimer & Co.