Rafael Reyes on Monday, 08 October 2012 17:15
SolarCity Files for IPO
SolarCity Corp., the San Mateo-based developer of rooftop solar-power systems whose chairman is Elon Musk, filed to raise more than $200 million in an initial public offering (IPO) that shows there are areas within the renewable-energy industry that benefit from cheap panels. The $201.3 million the company filed to raise is a placeholder amount used to calculate fees and may change, according to a regulatory filing yesterday. SolarCity plans to list on the Nasdaq Stock Market under the symbol SCTY.