ja-solar-gains-after-completing-followon

JA Solar gains after completing follow-on

The $266 million debut follow-on is priced at a 2.2% discount but triggers a 5.6% rally in the secondary market.
Nasdaq-listed solar cell manufacturer JA Solar Holdings priced its marketed follow-on offering at a 2.2% discount to WednesdayÆs close, allowing it to raise a total of $266 million. Only 63% of the shares on offer were new, however, which means not all the proceeds went to the company.

This was the first offering of shares in China-based JA Solar since it went public in February this year and the sale met with strong demand. According to one source, the deal was about four times covered and attracted about 50 to 60 investors, including some existing shareholders. The interest continued in the secondary market last night, pushing the share price to a new intraday record of...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222