PVTIME – LONGi announced yesterday that Hillhouse Capital Group will acquire 6% of the company’s shares from its second-largest shareholder Mr. Li Chunan.
Mr. Li Chunan intends to transfer 226,306,134 of the shares he holds to Hillhouse Capital at 70 RMB per share for a total of 15.84 billion yuan.
Based on LONGi’s market cap of 292.88 billion as of Tuesday morning, the 6% equity equates to about 17.57 billion yuan.
Hillhouse Capital Group is a global East and Southeast Asia-focused private equity firm. It was founded by Lei Zhang in 2005 with US$20 million in seed capital from the Yale Endowment.