•  
  •  
  •  

Xinyi Solar power unit calls off IPO

Solar panels in China. Featured Image: zhu difeng/Shutterstock.com

December 17 (Renewables Now) - The spin-off and listing of Chinese solar power firm Xinyi Energy Holdings will not proceed due to the “current continuing stock market volatility”, its parent, photovoltaic (PV) glass maker Xinyi Solar Holdings Ltd (HKG:00968), said Friday.

The company holds and operates a portfolio of 954 MW utility-scale ground-mounted solar farms in China. According to a prospectus published by the Hong Kong Stock Exchange (HKEX) on December 10, Xinyi Energy was to sell over 1.88 billion shares in Hong Kong and internationally in its initial public offering (IPO). The price range was of between HKD 1.89 and HKD 2.42 per share. The final price was expected to be announced on December 20, with trading on the HKEX commencing the next day under the stock code “3868”.

“[..] Directors will continue to monitor market conditions and other conditions to assess the appropriate window for the Global Offering , the Spin-Off, and the Listing in the future,” Xinyi Energy said Friday.

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription