Taiwanese Neo Solar sells USD 132.4m in global depositary receipts

Jul 15, 2011 - Taiwanese solar cell maker Neo Solar Power Corp (TPE:3576) announced earlier this week that it had pocketed USD 132.4 million (EUR 93.5m) in a global depositary receipts (GDRs) offering.

The company sold 20 million GDRs priced at USD 6.62 apiece. Each GDR consists of five common shares.

A week ago, Neo Solar said that it would reach a manufacturing capacity of 1.3 GW this month as it was nearing completion of a new production unit in Taiwan. The company is targeting higher conversion efficiencies and production line yields, in a bid to further expand its global market share.

(USD 1.0 = EUR 0.706)

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