SolarTec AG has selected investment bank Merrill Lynch as the contractor to prepare the company's initial public offering, which SolarTec plans to launch in mid 2008.
Based on the strategic positioning of the company with an increasing focus on the Asian markets, the IPO is envisioned to take place at the stock exchange in Singapore. The IPO will likely have a placed volume of up to 200 million euros, and Merrill Lynch is responsible for a round of pre-IPO financing at a volume of approximately 40 million euros.
SolarTec AG is a solar energy systems provider based in Munich, with offices in Spain, Italy, Greece, the U.S., China and Singapore. The company is active in all three generations of PV: crystalline silicon, thin film and concentrator PV.