‘Silicon Module Super League’ (SMSL) member JA Solar has said that its previously planned acquisition by an investor consortium via an all-cash transaction led by its founder, chairman and CEO, Baofang Jin had been completed, resulting in de-listing from the NASDAQ stock exchange.
JA Solar has requested NASDAQ stop the trading of its ADS shares as of July 17, 2018.
A loan facility to fund the acquisition was led by CSI Finance and Credit Suisse AG, Singapore Branch were acting as lead arrangers and underwriters for the Buyer Group’s loan facility.
A number of China-based PV manufacturers have left either the NYSE or NASDAQ in recent years, due to bankruptcy (Suntech, LDK Solar), de-listed (Yingli Green, CSUN) or through planned exits (Trina Solar, JA Solar).
Only two SMSL members, JinkoSolar and Hanwha Q CELLS continue to be listed on main US stock exchanges.