Shunfeng Photovoltaic International has postponed a large stock share issue announced in May 2014 due to recent volatility on international and Hong Kong stock markets.
Shunfeng had wanted to issue 600,000,000 shares at a placing price of not less than HK$10.00 per share totalling around US$774 million. The planned capital was expected to be used in PV power plant projects and new business ventures.
This article requires Premium SubscriptionBasic (FREE) Subscription
Already a subscriber? Sign In
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The company recently said it had backed out of a proposed deal for a geothermal heat pump company.
Shunfeng said that it would “continue to monitor market conditions” and “pursue an equity capital raising at an appropriate time”.
