Sky Solar gets new major stockholder

Solar system. Author: Mike Weber. License: Creative Commons, Attribution 2.0 Generic

November 1 (Renewables Now) - Japan NK Investment KK has completed the purchase of a 36.3% stake in Hong Kong-based independent solar power producer (IPP) Sky Solar Holdings Ltd (NASDAQ:SKYS), the latter announced on Wednesday.

Sky Solar said that Japan NK Investment had bought about 152.1 million ordinary shares, including such represented by American Depositary Shares (ADS), at USD 0.25 (EUR 0.22) per ordinary share, or USD 2.00 per ADS.

The sellers are Flash Bright Power Ltd, Rihuaxing Limited, Sunpeak Universal Holdings Inc and Bright Reality Investment Limited. Flash Bright is fully owned by Weili Su, the former controlling stockholder of the company, who left Sky Solar in June 2017.

Sky Solar develops, owns, and operates solar parks in Asia, South America, Europe and North America. It owned and operated 211 MW of plants as at the end of 2018.

(USD 1.0 = EUR 0.897)

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