Goldpoly to raise $106 million through share offering

Chinese solar developer and cell maker Goldpoly New Energy Holdings Ltd. Intends to raise 825.6 million HKD ($106.3 million) through a new share offering. The company aims to sell 480,000,000 shares at a price of 1,72 HKD per share. The shares will represent around 12.16% of the company’s share capital once the share issuance is completed. The company said it intends to use net proceeds from the offering to finance the acquisition of PV power plants »as and when opportunities arise.« Lastt week, Goldpoly signed a framework agreement with Chinese solar developer GD Solar Co. Ltd. to acquire 400 MW of PV power plants in Jinchang, Gansu Province, China. Half of the total capacity has already been connected to the grid. The company does not say when the remaining capacity will be online. The final price of the transaction will be calculated based on the finalized on-grid electricity price – this is 1 CNY (16¢) per kWh for the 200 MW that are already operational.

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