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United Photovoltaics Group

State-owned lenders will stump up cash to bail out developer Panda Green

With a $3bn debt pile, gearing of 73.1% and $127m due for repayment in around three months’ time, the directors of the former United PV Group want shareholders to dilute their investment by issuing shares worth more than 40% of an enlarged company, with a chunk of the proceeds coming from public funds.

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