Hanwha SolarOne's $70 million share issue

Share

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.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.