Since last Thursday 34 of the 36 companies in our Solar index have declined driving the index down 11.5%. One exception, with no price changes, was Solargiga (0757.HK) which requested trading in its share be suspended starting at 9:30 AM on Friday, September 5th pending “the release of an announcement relating to a major transaction”. Solargiga is engaged in the manufacturing of monocrystaline silicon and in reclaiming and upgrading silicon. The company is acting fast with a “major transaction” coming just 6 months after their IPO debut on March 31, 2008
The only company advancing, albiet a modest 1.6%, since Friday is Solar-Fabrick AG (SFX.F). Solar-Fabrick manufactures modules and is also in the reclaiming business through its July 2005 acquisition of Global Expertise Wafer Division Ltd., a wafer trader and recycler of semiconductor silicon.