+- 5N completes $34.5m IPO to fund German CdTe plant

Semiconductor Today reported December 26, 2007:

"High-purity metals and alloy producer 5N Plus Inc of Montreal, Québec, Canada has completed its initial public offering on the Toronto Stock Exchange at a price of $3.00 per share, yielding proceeds of $34.5m. In addition, in a parallel secondary offering, minority shareholder II-VI Inc of Saxonburg, PA, USA has sold its stake in 5N Plus for gross proceeds of $32m."

5N Plus has been known to provide both raw elements and thermoelectric grade bismuth telluride alloys.  II-VI Inc. is the parent company of Marlow Industries, a major thermoelectric cooling manufacturer.  Company info indicates they provide products for the "rapidly expanding" solar market, and a number of other electronic applications.

Since their IPO at $3/share on Dec. 20, 2007 the share price has reached $9.45 and is closed yesterday (Jan. 9, 2007) at $6.35.