GCL Silicon Technology IPO ADS: Finance Trading Times

GCL Silicon Technology IPO ADS

A new IPO or initial public offering is set to hit the American Capital Markets very soon. The IPO belongs to Hong Kong-based company GCL Silicon Technology Holdings Incorporated.
GCL Silicon Technology IPO ADS
What is the size of the GCL Silicon Technology IPO?
The GCL Silicon Technology IPO is expected to raise around $862.5 million USD.

What kind of shares will be offered through the GCL Silicon Technology IPO?
The shares to be offered by GCL Silicon Technology IPO will be American Depository Shares or ADS.

What is the business of GCL Silicon Technology company?
GCL Silicon Technology Holdings Limited or GCL Silicon, is dedicated to the research, development, production and sales of polysilicon. Polysilicon is the fundamental raw material used to produce semiconductors and photovoltaic (PV) applications. In recent years, polysilicon has been used extensively in the production of solar cell panels in the PV industry, which has significantly increased its market demand. According to the global industry forecast, solar power will surpass nuclear power to become one of the most important fundamental energy sources in the 21st century. This and other factors have generated a rapid increase in the global market demand for polysilicon.

GCL Silicon plans to set up a polysilicon production base for electronic grade and solar grade polysilicon in the next five years, with a total annual output over 15,000 tons.

Having a committed sense of both corporate and social duties and responsibilities, GCL Silicon seeks to establish a natural way of life by utilizing natural energy!

Where will the fund raised or capital raised from the GCL Silicon Technology IPO be used?
The GCL Silicon Technology IPO proceeds will be used for contribution to its China unit Jiangsu Zhongneng Polysilicon Technology Development Co, acquisitions, redemption of convertible bonds and other general corporate purposes.
GCL also plans to buy Sun Wave Group Ltd and Greatest Joy International Ltd, which own a 20 percent and 16 percent stake, respectively, in Jiangsu Zhongneng Polysilicon Technology Development and are controlled by GCL's chairman and majority shareholder, Zhu Gongshan, and affiliates.

Any other information available for GCL Silicon Technology IPO?
GCL will pay $240.6 million in cash using a part of the proceeds from the IPO, issue 2008 convertible bonds worth $446.9 million and about 268.5 million of its common shares.

What are the financial results of GCL Silicon Technology?
GCL Silicon Technology, which was not profitable until 2007, posted revenue of $81.5 million and net income of $35.5 million for the three months ended March 31, 2008.
Who are the lead underwriters for the GCL Silicon Technology IPO issue?
Morgan Stanley, Credit Suisse, HSBC Securities, Cowen & Co and Piper Jaffray are the lead underwriters for the GCL Silicon Technology IPO.
The company will list its ADS on the New York Stock Exchange with the symbol "GCL."
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