SPI solar power unit to list on Chinese OTC market
Solar farm. Author: Thomas Kohler. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
Vertically-integrated photovoltaics (PV) firm SPI Energy Co Ltd (NASDAQ:SPI) said Thursday it will list a unit that owns and operates utility-scale and commercial distributed generation (DG) solar parks across China on an over-the-counter (OTC) market at home.
The solar firm is preparing to list wholly-owned subsidiary Meicheng Power Suzhou Ltd on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board. The unit operates under SPI Energy’s power plant management and service business division.
After receiving the green light from its board of directors, the company appointed an advisory committee to prepare for the listing. It includes Ping An Securities Co Ltd, Jingtian & Gongcheng Law Firm and United Ericsson Certified Public Accountants.
The New Third Board is a national over-the-counter stock exchange for small and medium enterprises in China. It supplements trading activities on the Shanghai and Shenzhen bourses, SPI Energy explained.