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Trina Solar Limited has become the second Chinese solar energy firm to have its shares traded on the New York Stock Exchange.

 

The solar power product manufacturer has raised nearly US$98.1 million from its initial public offering of 5,300,000 American Depository Shares (ADS).

 

The ADSs, each representing 100 ordinary shares of Trina Solar, began trading on Tuesday, with their prices opened at US$26, up 40.5 percent from the IPO price.

 

A total of 5.3 million shares were sold for US$98 millions on its debut trading.

 

Trina Solar Limited (NYSE: TSL) is a leading solar power products manufacturer based in Changzhou, in east China's Jiangsu Province, with its products exported to Germany, Spain, Italy, France and the United States.

 

The company established in 1988 has a registered capital of US$40 million. It has raked in US$75.7 million in sales revenue over the first three quarters, posting US$7.8 million in net profits.

 

Previously, the Wuxi-based Suntech Power Holdings Co., Ltd, one of the world's top 10 manufacturers of photovoltaic cells based on production output, was listed in New York. Photovoltaic cells can convert solar energy for both commercial and residential purposes.

 

Twenty mainland companies have been listed on the NYSE so far.

 

(Xinhua News Agency December 22, 2006)