SolarCity postpones IPO as solar sector struggles

12 Dec. 2012 by

REUTERS - SolarCity Corp, a venture backed by technology entrepreneur Elon Musk, postponed its initial public offering on Tuesday, according to an underwriter and a market source.

The San Mateo, California-based company had intended to sell 10.1 million shares at a price underwriters hoped to set between $13 and $15. Some investors have questioned whether the solar panel company deserves the roughly $1 billion valuation.

Read full article online