FOX Translator
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You're at a fruit market. But, instead of just being able to buy apples at this fruit market, you can also sell fruit.
You're not a farmer, so you come to the market to buy some apples and you see two fruit stands. Fruit Stand A on the left
is buying and selling apples at 50 cents apiece. However, Fruit Stand B on the right is buying and selling apples at 53 cents
apiece. People are buying and selling apples at these two stands all the time, and the price at a stand could change at any
moment. But, while you're there, apples are 50 cents and 53 cents, respectively.
You're a smart person, and you quickly
realize that you can buy apples from Stand A and then sell them across the street to Stand B and make a 3-cent profit. But
you have to do it now; you can't wait. So you buy all the apples at Stand A and then run to sell them all to Stand B.
Congratulations.
You've committed fruit-stand arbitrage.
Arbitrage is exactly that: the selling of the same item between two different
markets to make a profit off the mathematical differences in price. However, it's not apples that are traded--the goods in
question are usually stocks, currencies and other securities. Arbitrage happens when you get a stock, usually a common one
like General Electric that's traded on multiple markets (Japan, Hong Kong, U.S., etc¿). The stock is usually worth within
fractions of a penny the same on each of those markets. However, there are often some minor variations.
People who
participate in arbitrage take advantage of these variations--and make a ton of money doing it. As seen in the fruit stand
example, you can make a "riskless profit" from buying and selling apples between different markets.
There are some
big hedge funds that make almost all their money off arbitrage. But, despite this simple example, arbitrage is mathematically
complex--and involves a good portion of risk if you don't know what you're doing. You probably won't be able to participate
in arbitrage directly, but you can always invest in a mutual fund that does.
Home / Markets / Industries / Energy
Wednesday, July 23, 2008
Canadian Solar Announces Closing of Follow-On Offering of Common Shares
Comtex
JIANGSU, China, July 23, 2008 /Xinhua-PRNewswire via COMTEX/ ----Canadian Solar Inc. (Nasdaq: CSIQ) ("Canadian Solar" or the "Company") today announced the closing of its follow-on public offering of 3,500,000 common shares at a public offering price of $34.00 per share (the "Offering"). The net proceeds to Canadian Solar from the sale of the 3,500,000 common shares are approximately $112.7 million after deducting underwriting discounts and commissions. The Company has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares, solely to cover over allotments. Deutsche Bank Securities Inc. and Piper Jaffray & Co. acted as joint bookrunners for the Offering.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements in this press release may be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Generally, the words "believe," "expect," "intend," "anticipate," "will," "may" and similar expressions identify forward-looking statements. These statements are only predictions. The Company makes these forward-looking statements based on information available on the date hereof, and it has no obligation (and expressly disclaims any such obligation) to update or alter any such forward- looking statements, whether as a result of new information, future events, or otherwise. See the Company's Form 20-F for the period ended December 31, 2007 for a further discussion of these and other risks and uncertainties applicable to the Company's business.
For more information, please contact: In Jiangsu, P.R. China Alex Taylor, IR Director Canadian Solar Inc. Tel: +86-512-6690-8088 Email: ir@csisolar.com In the U.S. John Robertson The Ruth Group Tel: +1-646-536-7024 Email: jrobertson@theruthgroup.com
SOURCE Canadian Solar Inc.
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Saturday, 07-19-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 07-01-2008 for CSIQ @ $37.50. As of Saturday, 07-19-2008 23:59, the latest Comtex SmarTrend Alert, an automated pattern recognition system, indicated an UPTREND on 07-18-2008 for DB @ $88.80. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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