China's JA Solar selling about $280 mln in shares
Tue Oct 2, 2007 5:18am EDT
reuters.com
HONG KONG, Oct 2 (Reuters) - Chinese solar cell maker JA Solar Holdings Co. (JASO.O: Quote, Profile, Research) 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: Quote, Profile, Research) and Lehman Bros (LEH.N: Quote, Profile, Research), 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. |
