Chinese language-Canadian photo voltaic module producer Canadian Photo voltaic has moved forward with plans for an IPO on the Shanghai Inventory Change (SSE).
The corporate initially submitted its IPO software in June 2021 and handed SSE itemizing assessment in December of that yr. The IPO was then quickly suspended in September 2022, as Canadian Photo voltaic reportedly failed to offer the required updates.
The IPO prospectus exhibits that Canadian Photo voltaic plans to concern 541 million shares, accounting for 15% of the whole post-issuance capital inventory. It expects to boost web earnings of CNY 8.8 billion ($1.26 billion) and mentioned it needs to speculate the funds to develop wafer, cell and module capability. It mentioned it additionally needs to put money into a brand new analysis institute in Jiaxing, Zhejiang province.
Canadian Photo voltaic is the one main Chinese language PV firm not listed on the Chinese language inventory market. JinkoSolar, JA Photo voltaic, and Trina Photo voltaic have moved from the New York Inventory Change to the SSE.
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