Chinese PV Industry Brief: Tongwei secures $1.38 billion for polysilicon business

Tongwei says it will bring in strategic investors for its polysilicon subsidiary, Sichuan Yongxiang Co. , raising CNY 10 billion ($1. 38 billion) at a CNY 27 billion valuation, with investors acquiring a stake up to 27. 03%. Tongwei said it will bring in strategic investors for its wholly owned polysilicon production unit, Sichuan Yongxiang Co. The CNY 10 billion investment values Yongxiang at CNY 27 billion before the capital increase. The new investors will acquire up to 27. 03% of Yongxiang, with the proceeds primarily aimed at debt repayment and working capital. Upon completing the transaction, ...

Den vollständigen Artikel lesen ...