US residential solar installer Sunrun has raised US$251 million following its flotation on the NASDAQ stock exchange yesterday.
Shares opened at the bottom end of the company’s US$13-15 dollar range however and before the bell on Thursday were priced at US$10.77, down 23%. Solar firms were mainly up on the NASDAQ yesterday.
Sunrun follows its US residential peers SolarCity and Vivint Solar on to the NASDAQ. It will trade under the symbol ‘RUN’.
Vivint, which also tumbled post-IPO, was sold last month to SunEdison for US$2.2 billion.
SolarCity is progressing with the construction of its 1GW Silevo fab in Buffalo, NY.