Trony Solar’s IPO filing could bring in $200M

Shenzhen, China-based Trony Solar Holdings is looking to raise up to $200 million in an initial public offering on the New York Stock Exchange, according to a regulatory filing today. It would trade under the ticker symbol TRO.

The thin film solar company, which has roots in producing thin film batteries, uses amorphous silicon technology to deposit non-crystalline silicon onto a substrate to manufacture solar photovoltaic modules that it says are thinner than conventional crystalline solar PV modules.

Its products include large modules with applications in PV power stations, building integrated photovoltaics and off-grid. Trony had a 115 megawatt annual manufacturing capacity as of the end of August.

It didn't list the number of shares it plans to offer or the price range. Founded in 2003, the company has more than 600 employees.

Last year, Trony Solar raised $20 million from Intel Capital, the investment arm of Santa Clara, Calif.-based chipmaker Intel (Nasdaq:INTC) (see Intel puts more cash into cleantech). Some of the funding was expected to be used on Trony's expansion plans.

Earlier this month, Enfield, Conn.-based STR Holdings said it was also planning to go public on the NYSE during the week of Nov. 2, which would mark the first U.S.-listed IPO from a solar company in more than a year. It is looking to raise $172 million by offering 12.3 million shares at a price range of between $13 and $15 per share (see Second time’s a charm for STR Holdings’ IPO?).

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