The NASDAQ stock market is the ideal place for companies offering innovative and environmentally friendly technologies to list, said Simon Zhao, CEO of Mexico’s Solarever.
In an interview, the director said that the NASDAQ “is a stock market that promotes the technologies of the future, those that are friendly to the environment, that’s why we have to be there, to be seen by investors who only invest their resources in this type of technological innovations.
Last week, the manager announced his intention to take Solarever, a manufacturer of solar products, including photovoltaic panels, energy storage systems and, starting this month, electric vehicles, to debut on the NASDAQ in New York, through an upcoming Offer Initial Public (IPO) to list this year.
“In addition, it is one of the largest and most important stock exchanges in the world where companies of the stature of Apple, Amazon and many others are listed,” he added.
The manager explained that “in the NASDAQ there are many investors, a lot of capital. We want resources to support innovation in technology in Mexico.”
Zhao did not rule out debuting Solarever in one of the two Mexican stock exchanges, either the Institutional Stock Exchange or the Mexican Stock Exchange, but it is not something that is currently in his plans. “We want to consolidate ourselves first in New York to later think about an IPO in some other stock market, but it is not ruled out.”
In addition, he said that it is much easier to debut in New York than in Mexico. “There are more facilities for companies that debut on the NASDAQ.” The intention is to debut on the NASDAQ in August, although it may be towards the end of the fourth quarter of this year.
The company is in talks with the United States Securities and Exchange Commission (SEC) to define the entry to the NASDAQ.
Regarding the market value at which the Mexican firm is valued, Simon Zhao said that “this is a figure that will be released when the time for the IPO approaches.”
The director said that they have already met with some international investment funds that would be willing to support Solarever’s arrival on NASDAQ with resources, although he declined to name names.
electric cars this month
On the electric car business Simon Zhao said that his competition will be gasoline vehicles. “We want to offer an accessible car for the Mexican market, low-middle range, at competitive prices.”
Zhao announced that more details about this business will be revealed on May 21 and that the first cars will go on sale possibly in the early second half of 2022.
The firm’s plans are to invest close to 1,000 million dollars in the next five years to grow its clean energy business. In a first stage, it will disburse 50 million dollars. For this, it is analyzing different places where to install an industrial park.