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Finance History | Nasdaq MarketSite — Twenty Dollars for Twenty Million Thin-Film Shares
· 2006-11
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Finance History | Nasdaq MarketSite — Twenty Dollars for Twenty Million Thin-Film Shares
kevin
People treat First Solar as an Arizona module maker that always printed FSLR after a finished silicon-free book.
The November 2006 issuer was First Solar, Inc., a Phoenix thin-film shop whose registration statement was declared effective on 16 November 2006.
On 17 November 2006 the company priced 20,000,000 common shares at 20.00 dollars a share in 2006 currency, above the 17-to-19 dollar range filed days earlier.
Selling stockholders offered 6,750,000 of those shares.
The company received none of that slice.
The Nasdaq Global Market opened the letters FSLR the same morning.
The print opened at 24.50 dollars and closed the session at 24.74 dollars.
Credit Suisse and Morgan Stanley ran the books.
The mechanism is a cash listing of a cadmium-telluride factory into a dealer market.
Public equity paid for an Asian plant the prospectus had already named.
The same four letters still print.
Nasdaq MarketSite at 4 Times Square is the public facade for that tape.
Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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