E-Ton raises capital to combat debt

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E-Ton Solar Tech, the Taiwanese crystalline-silicon solar cell maker, has announced that it has raised NT$2.415 billion by issuing new shares at the price of NT$80.5 per share, according to DigiTimes.

The funds, which amount to US$73.7 million, will go towards repaying company loans and decrease the debt ratio currently held by E-Ton from the 63% it stands at now, to around 50%.

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E-Ton also plans to raise a further NT$1.0 billion by issuing domestic convertible bonds. The company intends to expand its capacity to 350MWp by the end of 2009, shipping 250MWp of solar cells by the end of the same period.

 

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