Shares in Q-Cells traded up to €57 in the grey market today after lead managers Citigroup, Dresdner Kleinwort Wasserstein and Landesbank Baden-Württemberg raised the flotation price range of the German solar-electric equipment maker.

The banks increased the range from €29 to €34 to between €35 and €38. Banking sources said the deal is covered at the top of the new range.