Read the latest interims.......just make sure that you are sitting down.

Strong buys in US pre open

i am too, but keep fingers crossed that greed will not get its deserved punishment

It had a rapid fall after the rapid rise, chart looks a bit more supportive now imo.

I bet you are grinning again eh Cynic!

i took my London profit (again) but lost a bit back in NY which i have also now closed.

fully expect SOLA to track back to(wards) 500 in the morning

Had a good run again here cyners on the downside and closed out monday.

Just watching again for the moment.

Dont trust the management or I would follow it both up and down.

Theres a lot of news lately over in the US on the falling margins on wafers due to a surge in industry supply and at some point if demand doesnt catch up we are I reckon going to be getting analyst downgrades and profit warnings.

FOLLOW-ON PUBLIC OFFERING ON THE NYSE (Renesola)




RENESOLA LTD

FOLLOW-ON PUBLIC OFFERING ON THE NYSE

ReneSola Ltd ("ReneSola" or the "Company"), a leading global manufacturer of
solar wafers, is pleased to announce further details of its follow-on public
offering of American Depositary Shares ("ADSs") (the "Offering").
(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 )

Details of the Offering

A total of 9,000,000 ADSs, each representing two shares of the Company, are
being sold in the Offering at a price of US$20.50 per ADS.

Of the ADSs to be sold in the Offering, 8,577,220 ADSs represent new shares
being issued by ReneSola and 422,780 ADSs are being sold by certain selling
shareholders (the "Selling Shareholders"), including certain directors of the
Company, further details of which are set out below. In addition, the
underwriters have been granted a 30-day option to purchase up to 972,720
additional ADSs from ReneSola and an aggregate of 377,280 additional ADSs from
the Selling Shareholders to cover over-allotments.

The Company's ADSs will be traded on the New York Stock Exchange under the
ticker symbol "SOL." The ticker symbol of the Company's shares on the AIM
market of the London Stock Exchange ("AIM") will remain "SOLA."

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are
acting as joint book runners and Piper Jaffray & Co., Lazard Capital Markets
LLC and Oppenheimer & Co. Inc. are acting as co-managers for the Offering.

The underwriters expect to deliver the ADSs to purchasers on or about 23 June
2008.

ReneSola's registration statement relating to the ADSs sold in the Offering
has been declared effective by the United States Securities and Exchange
Commission. This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

The Offering is made only by means of a prospectus forming a part of the
effective registration statement. A copy of the prospectus relating to the
offering may be obtained by contacting Credit Suisse Securities (USA) LLC,
Eleven Madison Avenue, New York, New York 10010-3629, or by telephone at
1-800-221-1037; or by contacting Deutsche Bank Securities Inc., Attn:
Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311-3901, by
telephone at 1-800-503-4611, or by e-mail at prospectusrequest@list.db.com.

Separate from the Offering, the Company will issue 28,000 shares to Panjian
Li, Chief Strategy Officer of ReneSola, following his notification of exercise
of options. The shares resulting from the exercise will be converted into ADSs
and sold in the Offering.

Application for admission to AIM has been made for the 17,182,440 new shares
represented by the ADSs being sold by the Company and the new ADSs being sold
by Panjian Li in the Offering. Admission is expected to take place on or about
24 June 2008, following the anticipated closing of the Offering on or about 23
June 2008.

On closing of the Offering, before any exercise of the over-allotment option,
there will be 135,667,472 shares in issue.

Details of the Selling Shareholders

A total of 422,780 ADSs, representing 845,560 shares, are being sold by
Selling Shareholders in the Offering. In addition, under the over-allotment
option, the underwriters may purchase a further 377,280 ADSs from the Selling
Shareholders within 30 days of the date of the final prospectus.

Details of the effect of shares being sold in the Offering (before the
exercise of the over-allotment option) on the ownership interests of the
Selling Shareholders, as well as details of the shares held by the Selling
Shareholders which are subject to the over-allotment option, are set out
below. Ownership interests are calculated based on each person's proportionate
interest in the Company.

Shares
Beneficially Shares Shares % held
Owned Prior Being Sold Beneficially following Shares Subject
to
to This In This Owned After the the Over-
Offering Offering This Offering Offering Allotment
Option

Xianshou Li 23,863,437 298,604 23,564,833 17.4 298,604

(Director and
Chief Executive
Officer of
ReneSola) (1)
Yuncai Wu 10,476,505 131,155 10,345,350 7.6 131,155

(Director and Vice
President of
ReneSola) (2)
Zhengmin Lian 13,387,732 167,059 13,220,673 9.7 167,059

(Director of
Zhejiang Yuhui
Solar Energy
Source Co., Ltd.)
(1)
Xiangjun Dong 10,477,355 130,742 10,346,613 7.6 130,742

(Director of
Zhejiang Yuhui
Solar Energy
Source Co., Ltd.)
(3)
Charles Xiaoshu 273,333 60,000 213,333 0.16 15,000
Bai

(Chief Financial
Officer of
ReneSola)
Panjian Li 48,000 48,000 - - 12,000

(Chief Strategy
Officer of
ReneSola) (4)
Binghua Huang 20,000 10,000 10,000 0.01 -
(Director and
Chief Technology
Officer of
ReneSola)

(1) The shares held beneficially and expected to be sold in the Offering are
held through Ruixin Holdings Limited, a company owned and controlled by
Xianshou Li.

(2) The shares held beneficially and expected to be sold in the Offering are
held through Yuncai Holdings Limited, a company which is owned and controlled
by Yuncai Wu.

(3) The shares held beneficially and expected to be sold in the Offering are
held through Ruixin Holdings Limited and Yuncai Holdings Limited.

(4) Panjian Li has notified the Company of an exercise of options for 28,000
shares, which, following their issue, are expected to be sold as part of the
Offering.

Lock-up Agreements

Each of the Selling Shareholders and the remaining directors and executive
officers of the Company has agreed, subject to certain exceptions, not to
transfer or dispose of, directly or indirectly, any shares in the Company, in
the form of ADSs or otherwise, or any securities convertible into or
exchangeable or exercisable for shares in the Company, in the form of ADSs or
otherwise, for a period of 90 days from the date of the final prospectus.
After the 90 day period, the shares which are subject to the lock-up
agreements may be sold subject to the restrictions under Rule 144 of the US
Securities Act of 1933 or by means of a registered public offering.

for very old folk like me, the attention span required to read all the crap above is just too much ..... please paraphrase, if that was still on the curriculum when you were at school.

Just to sum it up, its got to be good news $20.5 for each shares which is about 513p/share. Up and away imo.

actually, the only interesting bit was "A total of 9,000,000 ADSs, each representing two shares of the Company, are being sold in the Offering at a price of US$20.50 per ADS", so the balance could have been omitted without loss.

just because these are being offerd at 513 ($20.50) has no real bearing on the share performance .... in fact, it is likley that the the price has been manipulated (legally of course!) to ensure that these new shares go at a slight discount.

looks like a (probable) good opportunity to short some time during the next week, even if only for a quick turn.

Good luck cynic!
I'll be interested to see how US react to today's news. The volume yesterday was pretty impressive.

shall remain neutral i expect, as am off on hol early tomorrow, and though i shall inevitably have my laptop, shall not be able (or willing!) to monitor thoughout the day

15% to 17% dilution says this is not such a good deal.

heres my original post on sol ipo on nyse.....

Total of $119 million underwritten, and not $130 million, see post above.

and as for trading at a huge discount, throw in the dilution of

bonds 10%

employee scheme 7%

and now this defunked IPO 17% and the total prospective dilution is

a grand total of 34%.

Dont have to tell you how this will now affect the P/E ratio going forward.

Watching initial reaction on the Dow.ENDS

now we add in a further 17% for this share issue and we have a potential grand total 51% potential dilution.

yes 51%.

EPS diluted, P/E forecast far higher than the one used by analysts promoting this stock and my calcs show its trading at a premium to peers within the industry.

Add in the over supply situation of wafers within the industry and the fact that sola STILL does not generate positive operational cash and the story here does not look so good as first thought.

Watching with interest.

Seems a good deal and after disgestion and the expected fall due to dilution worries slao will be flying north again.
the Yanks just love this stock if you read the US bb's.
They love to trade on ups and downs and with Sola you have as they say got the real deal.

if Dow tumbles further, which is very much on the cards, then SOLA will be whacked ...... regardless, i would expect to see SOLA ADRs (aka SOL in NY) trading at $19.00 or less within a couple of weeks, and goodness knows how low ($15.00?) if Dow really turns sick

If the Dow tumbles on oil price fears cynic than this will benefit Sola-stay long.

no thanks! ..... took my profits yesterday and am happy to stay neutral with a possible view to short ...... Dow is likley to tumble, but not necessarily because of continued rise in oil (Nymex) ..... imo, Nymex level is now very bubble-like, but i thought that $5.00 or so lower!

Strong finish in US up 3.5% despite the tumble on DOW. The volume traded 8m+

looks strongly as though the managed support has been withdrawn now that the second offering has been successfully launched.

to short or not to short? ...... probably shall, even though away on hol

did so at 514.5

my only little glimmer of sunshire today in a seriously bleak market