Canadian Solar's (CSIQ) Subsidiary CSI Solar's IPO Pricing Announced by the Shanghai Stock Exchange
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Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announces that, in connection with the proposed initial public offering ("IPO") of its majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar") on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, the Shanghai Stock Exchange has announced the pricing of the IPO of CSI Solar's shares.
CSI Solar plans to issue 541,058,824 shares, representing 15% of 3,607,058,824 shares outstanding immediately after the IPO. In addition, CSI Solar plans to grant the principal underwriter of the IPO a 30-day option to purchase up to an additional 81,158,500 shares of CSI Solar to cover over-allotments, if any. CSI Solar plans to issue 622,217,324 shares, representing approximately 17% of 3,688,217,324 shares outstanding immediately after the IPO, assuming that the over-allotment option is exercised in full.
The proposed pricing of the IPO is
The shares of CSI Solar will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in
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