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10 years ago
China's JA Solar selling about $280 mln in shares
October 2, 2007 / 9:23 AM / 10 years ago

China's JA Solar selling about $280 mln in shares

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HONG KONG, Oct 2 (Reuters) - Chinese solar cell maker JA Solar Holdings Co. (JASO.O) is selling 6.33 million American Depositary Receipts, worth about US$280 million based on its Monday Nasdaq closing price, a source familiar with the deal said.

Pricing of the deal, jointly handled by Credit Suisse CSGN.VX and Lehman Bros LEH.N, is set for Oct. 10, the source said. Of the shares to be sold, 63.2 percent are primary and the remainder are secondary.

The deal also has a 15 percent overallotment option.

JA Solar ADRs closed at US$44.1601 on Monday, nearly triple their February IPO price of US$15 each.

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