Jiangsu Linyang to Raise $294 Million for SolarBloomberg News
Jiangsu Linyang Electronics Co., a Chinese maker of electronic energy meters, plans to issue as many as 75 million shares to raise 1.8 billion yuan ($294 million) for solar power projects.
The company will sell the shares in a private placement at a price of more than 24.01 yuan apiece, according to a statement to the Shanghai stock exchange.
Jiangsu Linyang will use the proceeds to invest in 280 megawatts of photovoltaic power projects.
— With assistance by Feifei Shen