Eging PV, a solar cell and module maker based in China, plans to raise no more than 1.3 billion yuan through non-public offering of shares. The funds raised after deducting the issuance expenses will be used for a high-efficiency solar module facility with 5 GW annual output capacity.
The target company of the issuance is Keenstar Investment, the controlling shareholder of EGing PV.
According to the third quarterly report of EGing PV in 2021, Keenstar Investment holds 21.65% of the company’s shares. After the completion of this non-public offering, Keenstar Investment will hold more than 30% of the total share capital.
EGing PV revealed in its semiannual report that its 2 GW high-efficiency module facility has reached its designed production capacity. The 3 GW high-efficiency silicon cell project has finished commissioning.
On top of the existing capacity, the module maker plans to add another 5 GW of high-efficiency solar module project in Changzhou using the funds raised.
