Canadian Solar has become the latest module manufacturer to pursue a de-listing from the New York Stock Exchange.
The company has received a non-binding offer from its chairman and CEO Shawn Qu. The offer of US$18.47 per share values the company at more than US$1 billion.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
It is the same strategy taken by Trina and JA Solar before it. ReneSola took its manufacturing business private by separating it from the project division that remains listed. It's module production is now owned by its chairman.
Many observers feel the US stock markets undervalue solar companies making the draw of going private, and potentially re-listing in China or Hong Kong, an attractive option. None of the major module firms to have de-listed have so far floated on non-US platforms.
Canadian Solar’s board will now convene a special committee to assess the offer and make a recommendation to the shareholders.
