PVTIME – CECEP Solar Energy Technology, a holding subsidiary of China Energy Conservation and Environmental Protection Group (CECEP), released a proposal for the non-public offering of shares.
The company intends to raise up to 6 billion yuan for the construction of photovoltaic power station projects and to supplement working capital. The PV plants will include a 300MW PV power generation project in Binhai, a 200MW agricultural PV power generation project in Fuquan, a 200MW agricultural PV power generation project in Libo County, and other PV power plant projects totaling 1.128 GW.
The non-public issuance is targeted at 35 specific subjects who meet the requirements of the China Securities Regulatory Commission including China Energy Conservation and Environmental Protection Group Co., Ltd. and its controlled affiliate China Energy Conservation Capital Holdings Co., Ltd. (hereinafter referred to as “CECEP Capital”).
The number of issuances of this non-public issuance will be determined by dividing the total funds raised by the issuance price, and will not exceed 30% of the company’s total share capital before the non-public issuance. According to this calculation, the number of shares issued in this non-public offering will not exceed 902,129,409 shares.
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