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Renewable Energy in Southeast Asia: Powering Sustainable FuturesRenewable Energy in Southeast Asia: Powering Sustainable Futures
Home » CSI Solar Aims to Raise USD 845m in Shanghai IPO
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CSI Solar Aims to Raise USD 845m in Shanghai IPO

Saur News DeskBy Saur News DeskMay 31, 2023Updated:May 31, 2023No Comments
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Canadian Solar Operationalize Its First FIP Projects in Japan
Canadian Solar Operationalize Its First FIP Projects in Japan
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Canadian Solar Inc. has announced that its majority-owned unit, CSI Solar Co Ltd, will seek to raise CNY 6 billion (USD 845.4m/EUR 790.4m) gross in its initial public offering (IPO) in Shanghai. CSI Solar is a solar module manufacturer and also operates as a total system solutions provider.

As per the firm, CSI Solar’s stock is planned to be listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange. Chinese regulators had cleared the deal at the end of 2021 and accordingly, about 541.1 million shares will be issued at a price of CNY 11.10 apiece.

A 30-day option will be granted  to buy an additional 81.2 million to the transaction’s underwriters. If this option is  fully exercised, CSI Solar would witness sale of 622.2 million shares, equal to roughly 17% of its outstanding stock following the placement.

As per reports, Canadian Solar owns roughly 80% of CSI Solar’s outstanding stock, with the stake to be lowered to 64% if the over-allotment option is not exercised and to 62% if it is fully exercised. The date of acceptance for the subscriptions is from May 31 and with the final IPO share placement and share allocation due to be confirmed on June 5.

Canadian Solar CSI Solar IPO solar module manufacturer
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