Xinyi Solar Holdings Limited’s HK$2.7 Billion Rights Offering

Slaughter and May, Hong Kong, advised Citigroup Global Markets Limited on the transaction.

Citigroup Global Markets Limited acted as placing agent, in relation to the placing of 282,000,000 new ordinary shares in Xinyi Solar Holdings Limited (Xinyi Solar). The gross proceeds from the placing were approximately HK$2.7 billion. Xinyi Solar intends to use the net proceeds from the placing for capital expenditure of solar glass production capacity expansion and general working capital. The placing was completed on 10 September 2020.

Xinyi Solar is a leading global solar glass manufacturer principally engaged in the production and sale of solar glass products, development and operation of solar farms and the provision of engineering, procurement and construction services. It has been listed on the Main Board of the Stock Exchange of Hong Kong since 12 December 2013.

Slaughter and May’s team included John Moore (Picture), Partner, Jianhao Zheng, Counsel, Edward Lau, Associate and Yitian Jin, Associate.

Involved fees earner: Yitian Jin – Slaughter and May; Edward Lau – Slaughter and May; John Moore – Slaughter and May; Jianhao Zheng – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Citigroup Global Markets Ltd;

Author: Michael Patrini