The primary shareholder of JA Solar — Baofang Jin, who is also the chairman and CEO of the company — recently officially proposed to take the company private via the purchase of all outstanding US American Depositary Shares of the company, according to recent reports.
As it stands, Baofang Jin holds roughly 15.6% of JA Solar’s shares. The company’s stock is currently listed on the NASDAQ exchange. According to Jin, his company Jinglong Group Company would perform the deal via a mixture of debt + equity capital.
The proposal is reportedly being decided upon by a special committee formed of independent directors. Interestingly, Jin commented on the reasons behind the move as being “in the shareholders interest.” Hmmm.
Image Credit: JA Solar
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