Another solar share sale soars as GCL-Poly nets $475m

03 Aug 2009

GCL-Poly Energy Holdings, the solar wafer manufacturer, raised HK$3.68bn ($475m) on Tuesday in a popular share placement as investors continued to support its plans to expand in China’s renewable energy sector.

GCL-Poly sold 1.3bn new shares worth 10.5% of its enlarged share capital before markets opened on Tuesday morning. The deal was priced at HK$2.83 a share, a discount of 16.8% to Monday’s closing price of HK$3.40.

That was an increase of around 30% from the base size of ...

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