Isovoltaic Said to Start Stake Sale After Failed IPO

Western Europe › United Kingdom ♦ Published: March 5, 2012; 17:21 ♦ (Vindobona)

Isovoltaic AG, an Austrian solar developer, started the sale of a 45 percent stake as it seeks an alternative to last year’s failed initial public offering, according to a person with knowledge of the process.

Isovoltaic Said to Start Stake Sale After Failed IPO / Picture: © Vindobona.org

The company has sent information to potential buyers and requested indicative offers in a month, said the person, who declined to be identified because the matter is confidential. The Lebring-based developer aims to complete the sale by the end of June, the person said.

Isovoltaic, which makes protective backing for solar panels, halted its € 378m ($ 498m) IPO in April as…

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