Chinese solar makers exit Wall Street as valuations slide, shares underperform

New York

WITH its market value slumping, the world's biggest photovoltaic manufacturer is moving to go private, the second solar company this year and probably not the last.

Trina Solar Ltd announced a buyout bid Monday from founder Jifan Gao that offers shareholders a 21.5 per cent premium. JA Solar Holdings Co, the fifth-largest panel maker, received a similar offer in June.

The moves show the frustration of a solar industry dominated by Chinese companies that have seen shares underperform US peers even with rising profits and sky-high growth forecasts. China's solar entrepreneurs, after raising billions selling shares on Wa…