Trina Solar in US$1.1 billion exit from NYSE

Facebook
Twitter
LinkedIn
Reddit
Email
Trina Solar has announced that its chairman and chief executive officer, Jifan Gao has secured an investor consortium to take the company private and exit the NYSE in a US$1.1 billion transaction. Image: Trina Solar

Leading ‘Silicon Module Super league’ (SMSL) member Trina Solar has announced that its chairman and chief executive officer, Jifan Gao has secured an investor consortium to take the company private and exit the NYSE in a US$1.1 billion transaction. The merger is currently expected to close during the first quarter of 2017.

Trina Solar appointed Citigroup Global Markets Inc., as its financial advisor and Kirkland & Ellis as its international legal counsel to handle the proposal to take the company private in January 2016, after announcing the plans December 11, 2015.

This article requires Premium SubscriptionBasic (FREE) Subscription

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 investor consortium that includes Fortune Solar Holdings Limited (Parent company) and Red Viburnum Company Limited (Merger subsidiary), a wholly owned subsidiary of the parent company plans to offer the right to receive US$0.232 in cash without interest in each American depositary share ‘ADS’ in Trina Solar (50 Shares), that would be cancelled in exchange for the right to receive US$11.60 in cash without interest.

The purchase represents a premium of 21.5% to the closing price of the Trina Solar’s ADSs on December 11, 2015, the last trading day prior to the original announcement to take the company private and a premium of 40.6% to the closing price of the ADSs on Friday, July 29, 2016.

The investor consortium comprised, among others, Mr. Gao, Shanghai Xingsheng Equity Investment & Management Co., Ltd., Shanghai Xingjing Investment Management Co., Ltd., Great Zhongou Asset Management (Shanghai) Co., Ltd., Liuan Xinshi Asset Management Co., Ltd. and/or their respective affiliates.

The company follows a similar move by the founder and chairman of NASDAQ listed JA Solar, although JA Solar said in its first quarter earnings call that it had no update to provide on the planned move to take the company private. 

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 9, 2025
Singapore-based Sembcorp Industries has agreed to acquire ReNew’s 300MW solar power unit in India for around US$246 million.
October 9, 2025
The retroactive collection of duties on historical solar imports to the US has been temporarily paused pending the outcome of an appeal.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK