Deals
Remember Hanergy? Suspended Firm Back With Privatization Offer
- Major holder offers at least HK$5 per share to delist company
- Shares suspended since 2015 after meteoric rise, collapse
Pedestrians walk past a branch of Hanergy Thin Film Power Group in Shanghai in 2015.
Photographer: Bai kelin/Imaginechina
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Hanergy Thin Film Power Group Ltd., the solar power technology firm whose shares have been suspended in Hong Kong for more than three years, is resurfacing on the back of a privatization offer from a substantial shareholder and a plan to relist it on the Chinese mainland.
Hanergy Mobile Energy Holding Group Ltd. said in a statement Tuesday that it will offer at least HK$5 ($0.64) for each share “in order to protect the interest of middle and small shareholders” and that the listed company’s board has agreed to the privatization offer. Hanergy Thin Film confirmed the statement but declined to comment further.