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China Solar Cell Maker JA Solar to Sell $280 Million Worth of Additional Shares

From Staff Reports

China-based solar-cell maker JA Solar Holdings Co. Ltd. (JASO) is selling 6.33 million American Depositary Receipts, worth about $280 million based on its closing price of $44.01 yesterday (Monday), Reuters reported that sources said.

The pricing of the deal, jointly handled by Credit Suisse (CSGN.VX: Quote, Profile, Research) and Lehman Bros. Holdings Inc. (LEH), is set for Oct. 10, the source said. Of the shares to be sold, 63.2% are primary, with the rest secondary.

The deal also has an over allotment option equal to about 15% of the shares being sold.

JA Solar’s ADRS have nearly tripled from their February IPO price of $15 each.

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This entry was posted on Tuesday, October 2nd, 2007 at 2:33 pm and is filed under Alternative Energy, China, Chinese Investments, Investing In China, Solar, Top News. You can follow any responses to this entry through the RSS 2.0 feed. Due to the amount of comments we receive Money Morning will not be able to respond to all questions. If you have not already registered to leave a comment, once doing so you will receive Money Morning's Daily Email. Responses are currently closed, but you can trackback from your own site.