The world's largest manufacturer of solar micro-inverter EnphaseEnergyInc. IPO financing $ 51.1 million, only half the originally anticipated. Documents show, Enphase price of $ 6 per share, sold 897 million shares. Company's existing supporters agreed to purchase 250 million shares of which.
March 28, Enphase its IPO price range of 10-12 dollars fell from the previous 6-7 dollars. This home is located in
said it intends to raise through an initial public offering $ 100 million of
funds. Enphase CEO PaulNahi telephone interview, said the proceeds will be used
for new markets in Europe and Asia, expansion and technical upgrading,
including the company's network system improvements, so that customers could
better monitor the operational status of solar photovoltaic power plant. Petaluma,
Enphase stock today on the NASDAQ stock market trading, first day of trading rose 22 percent, to $ 7.34, the company a market capitalization of $ 274 million. Enphase mainly for the production of PV modules produced by the direct current into alternating current miniature photovoltaic inverter.
Nahi said: "We will be restructuring of the industry attributed to micro-dc to ac power inverter, which will change the whole solar industry and this market has a size of $ 7 billion, last year we did $ 150 million in revenue." Last year, the company's revenue over $ 149.5 million, while the net loss increased 48% to $ 32.3 million.
Nahi said that the current Enphase in
residential solar photovoltaic systems occupy a proportion of 30% in commercial
roofing systems in the proportion of 18%.
Traditional Inverter Suppliers SMA Solar Technology, Power-One and SunPower Corp. Expected to be introduced this year, micro-inverters. Other competitors include Siemens AG and Advanced Energy Industries.