Schott Solar cancels stock offering in Germany
Schott Solar, a German manufacturer of solar modules, cancelled Wednesday plans for a public offering of its shares the next day.
Citing the financial crisis and the world plunge in stock prices, the Mainz-based company set no new date for the flotation, which was originally set for September and had to be delayed.
Schott Solar makes both photovoltaic and thermal systems that collect the energy of sunlight. It had hoped to raise up to 546 million euros on Thursday in Germany's biggest stock offering this year.
A spokesman said the unit would obtain financing it needed to expand through the parent Schott company.
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