Stocks: SPI

PV project developer SPI Energy, formerly SPI Solar Power (SPI Solar), is to be relisted on the US NASDAQ Global Select Market, using its former ticker, SPI.

SPI was a majority-owned subsidiary of LDK Solar and was caught up in the impact of the bankruptcy and was de-listed in 2013 and traded as SOPW on the OTCBB. 

Heavily embroiled in the collapse of LDK Solar was former founder, chairman and CEO, Xiaofeng Peng who was forced to resign from the collapsed firm in mid-2014 but took over the reins at subsidiary, SPI Solar. 

Having moved headquarters to Asia and a secured a string of private placement share offerings to unidentified investors, SPI secured a credit line of over US$1.6 billion from China Minsheng Bank, China Construction Bank and Suzhou Bank in March 2015. 

SPI Energy also launched an e-commerce and online investment platform, Solarbao.com to fund PV projects in China. 

Peng remains a shareholder in LDK Solar. 

SPI expects its American depositary shares to commence trading on 19 January 2016.

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