Meyer Burger closes CHF 250m share issue

Meyer Burger Technology AG (SWX:MBTN) has completed a capital increase that fetched gross proceeds of CHF 250 million (USD 253.05m/EUR 254.2m) to support the expansion of the Swiss solar module manufacturer's annual production capacity to about 3 GW.

A total of 926.7 million new shares will be issued as a result of the capital increase, including 17.9 million shares sold during the rights offering and 908.7 million new shares for which subscription rights have been exercised, the company said on Thursday. The shares were offered at a price of CHF 0.267 apiece.

The new shares will start trading on the SIX Swiss Exchange on Friday.

“The successful capital increase enables Meyer Burger to seize the opportunity to accelerate its expansion to approximately 3 gigawatts of production capacity per year,” said chairman Franz Richter.

The fresh capital will be spent on the expansion of solar cell production capacity at the Thalheim site in Germany as well as to raise solar module production at the Goodyear site in Arizona.

(CHF 1 = USD 1.012/EUR 1.017)

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