Photowatt Technologies solar IPO on March 12th

March 2, 2007
Company plans offer 10.9 million shares at from $15 to $17 USD per share on March 12th.

Cambridge, Ontario-based Photowatt Technologies, a subsidiary of ATS Automation Tooling Systems (TSX: ATA) plans to go public on the Toronto Stock Exchange on or around March 12th.

The company is to offer 10.9 million shares at from $15 to $17 USD per share. It posted revenue of $122 million CDN in the twelve month period ending March 31st, 2006, according to a regulatory filing.

Photowatt makes and sells solar modules and installation kits, and provides solar power system design services to its customers.

The company has a manufacturing facility in Lyon, France, a module assembly operation in Albuquerque, New Mexico and a solar development facility in Cambridge, Ontario.

Its products are sold under the Photowatt and Matrix brand names.

BMO Capital Markets and UBS Investment Bank are acting as joint book-running managers.

More

Coverage brought to you by

Cleantech developments making news in the past 24 hours

View the last week of cleantech developments here | Subscribe to full feed Feed

Comments

PhotoWatt solar IPO pulled

Submitted on March 29th, 2007 by Dallas Kachan

Its IPO had been pushed back. Now, parent company ATS Automation Tooling Systems has indenfinitely cancelled a planned public offering of its Photowatt Technologies solar energy division after "failing to obtain the terms it wanted for the spinout."

Shares in ATS immediately dropped 99 cents, or 10.43 per cent, on the Toronto Stock Exchange.

"Unfortunately, due to market conditions, we were not able to complete an IPO on terms that were acceptable to us," ATS president and chief executive Ron Jutras said in a statement.

Post new comment

The content of this field is kept private and will not be shown publicly.
Become a cleantech industry insider - sign up for our free newsletter