Neo Solar Power to issue shares for anuual expansion

Neo Solar Power (NSP), Taiwan-based maker of crystalline silicon solar cells has announced that it will issue 30million new shares, with an aim of significantly expanding its annual production capacity, according to DigiTimes.

The company hopes that these shares will raise around NT$800 million  ($24.6million), which will in turn increase its annual production capacity by 150MWp to 360MWp in the second half of 2009.

Neo Solar has indicted that its board of directors approved this fund-raising plan earlier in the summer and is not denying reports that it has been in talks with potential clients in Japan via Daiwa Securities, its main shareholder.

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