Clean Energy Company Launches $6M IPO on New Asian Cleantech Stock Exchange
Frontier Solar Limited (SIM:FSO) a Brisbane-based solar mounting technology company with patented designs for reduced installation times, high wind resistance and tracking, with an established residential and large-scale international client-base today announced a $6m Initial Public Offering (IPO).
The Companyâ€™s technology brand Frontierac is produced by the subsidiary company based in Shanghai, established in 2005.
Frontier Solar is an expanding and profitable Australian solar mounting technology company that designs and produces the entire spectrum of mounting systems; ranging from rooftop to ground, from fixed installations to solar trackers, from residential to commercial power plants.
The IPO is by way of a Replacement Prospectus dated 8 November 2011, with the intention of listing on the SIM VSE late December 2011.
The IPO is for the issue of 24,000,000 Ordinary Shares at an offer price of $0.25 each to raise a total of $6,000,000 with a minimum subscription of $4,000,000. AFS Capital Securities Ltd, trading participant of SIM VSE, undertakes the Lead Manager of this IPO.
Frontier Solar will be the first company to IPO on the new Asian clean tech stock exchange the SIM VSE, based in Australia, and the first cleantech company to launch an IPO since the passing of the Australian Government Clean Energy Future (CEF) package.
Frontier Solar CEO Robin Wu said the Companyâ€™s technology is ranked among the top 10 mounting technologies in both Australia and China.
â€œWe have an extensive client-base in the Asia region, Europe, Middle East and the USA and our technology was recently deployed in the largest commercial solar rooftop installation in China, and the largest in Australia at the University of Queensland â€“ a 1.2 Megawatt facility,â€ said Wu.
â€œFrontier Solar is pleased to be the first IPO on SIM VSE. The Exchange brings investors from across the Asia region that understand the key role clean technology will play in our future.â€
The Companyâ€™s brand, Frontierac, is an innovative design engineering leader with five patents granted and four patents pending.china clean energyaustralian government, china renewable, clean energy, energy future, high wind, initial public offering ipo, ipo energy, megawatt facility, renewable energy, solar rooftop, solar trackers, technology brand, university of queensland
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