Hanwha SolarOne's $70 million share issue18. November 2013 | Applications & Installations, Global PV markets, Industry & Suppliers, Investor news, Markets & Trends | By: Max Hall
Chinese solar manufacturer Hanwha wants to expand its project development business in China and upgrade its manufacturing processes. Hanwha Group intends to start manufacturing polysilicon in future.
Chinese solar manufacturer Hanwha SolarOne has signalled its intent to beef up its downstream business in the country with a $70 million American Depositary Share (ADS) issue.
Hanwha SolarOne, which manufactures ingots, wafers, cells and modules, will issue the ADS' through Credit Suisse, with each ADS made of five ordinary shares.
In announcing the move to the U.S. Securities and Exchange Commission (SEC) on Friday, Hanwha cited a desire to diversify its business into solar plant development in China as well as to fund upgrades to its manufacturing processes.
Hanwha's parent company Hanwha Group is active in solar project development and financing and is intending to start polysilicon manufacture.
Monday, 18.11.2013 17:06
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