Recently, JA Solar announced the completion of the merger with the controlling parent company, officially delisted from the US Nasdaq and became a private company.
JA Solar was established on May 18, 2005, mainly engaged in the design, development, production and sales of high-performance solar products. On February 7, 2007, JA Solar was listed on the NASDAQ Stock Exchange (transaction code: JASO).
JA Solar, China's third-largest photovoltaic company listed in the US, announced on November 17 that it has formally entered into a final agreement and merger plan with Jingao Holdings. The listed company will be acquired and privatized for $362 million in all-cash transactions. The buyer is the chairman and CEO of Jingao, Mr. Qi Baofang, and a company controlled by the British Virgin Islands, Jinglong Group.
The delisting of this well-known listed company can be described as several twists and turns, which lasted for more than two years. In June 2015, the company received a privatization offer from Yan Baofang at a price of $9.69 and a corporate valuation of approximately $489.1 million. At the time, Jingao said that the company's board of directors intended to form a special committee including independent directors to consider this proposal. Time is constantly flowing, and the privatization seems to have been shelved, and there is no delay.
According to an agreement announced by JA Solar in November last year, the buyer group plans to fund the acquisition in a mix of debt and equity. The buyer group has reached a US$160 million loan with CITIC Financial Co., Ltd., Credit Suisse Group Singapore and other institutions.
Under the terms of the transaction, each common share can be exchanged for $1.51 in cash, and each ADR can be exchanged for $7.55 in cash. This price premium is 18% compared to the closing price on June 5, 2017. June 5 is the time when the company announced its "privatization" program.
JA Solar demanded a suspension of stock trading on Nasdaq on July 17 (US Eastern Standard Time), and Nasdaq will file a notice of delisting with the US Securities and Exchange Commission.
With the delisting of JA Solar, the current US market is also the PV companies in China that have just done asset divestiture, including Huihui Sunshine, Jinko Energy and Artes.
Among them, the Huihui Sunshine under the leadership of Li Xianshou has become an independent downstream service provider focusing only on small and medium-sized power stations, especially distributed businesses. All components and other production facilities and assets are transferred out. Artes and Jingke are still new integrated energy companies.
ZMS Cable has it brand known among our clients in Asia for our years efforts on developing new potential market demand while maintaining current market share. Our solar power cables, airportlighting cables, armored XLPE cables, bare conductors like AAAC, ACSR, AAC and control cables are highly demanded among our market in Asia. Our products are widely used in solar projects, new energy projects and for power transmission line. Welcome your inquiry.
Copyright ? 2010 - 2025 zmscable.com All Rights Reserved.
