‘Silicon Module Super League’ (SMSL) member Hanwha Q CELLS has as expected confirmed it would de-list from NASDAQ as part of its planned acquisition by Hanwha Solar Holdings Co, a subsidiary of Hanwha Chemical Corporation.
The SMSL said that its American depositary share (ADS) purchase price had been set at US$9.90, a premium of 50.0% to the closing price on August 2, 2018, which was the last trading day prior to Hanwha Solar's proposal to purchase all of the outstanding shares of Hanwha Q CELLS, which put the purchase price at around US$825 million.
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Hanwha Solar Holding intends to fund the acquisition with equity and the deal is expected to be completed in the first quarter of 2019. Hanwha Solar Holdings already owns approximately 93.9% of the SMSL.