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Panel installer Solarcity files for $200 mln IPO

Friday, 5 Oct 2012 | 4:45 PM ET

Oct 5 (Reuters) - Solar panel installer Solarcity Corp filed with U.S. regulators to raise up to $201 million in an initial public offering of its common shares.

Growth in solar installations in the United States has outpaced forecasts in recent months as low panel prices pushed down costs.

The company plans to list its common stock on the Nasdaq under the symbol "SCTY."

Solarcity said it might use a part of the proceeds from the offering to expand its current business through acquisitions or investments in other complementary strategic businesses, products or technologies.

Goldman Sachs, Credit Suisse Securities and BofA Merrill Lynch are acting as the lead underwriters for the offering.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Ashutosh Pandey in Bangalore; Editing by Supriya Kurane)

((ashutosh.pandey@thomsonreuters.com)(within U.S.+1 646 223 8780, outside U.S. +91 80 4135 5805)(Reuters Messaging: ashutosh.pandey.reuters.com@reuters.net))

Keywords: SOLARCITY IPO/