3.488 Billion Yuan! Shuangliang Raises Funds for 40GW Monocrystalline Silicon Project

PVTIME – On August 8, Shuangliang Eco-Energy Systems Co., Ltd. (600481.SH), a leading solar PV production equipment manufacturer in China, disclosed that its private placement of A shares has been completed with 3.488 billion yuan funds raised, which will be used for its development of photovoltaic related business.

According to the announcement, 16 investors have obtained the final quota of Shuangliang shares. Among them, Southern Asset Management, Nuode Asset Management, China International Fund Management and Caitong Fund Management, have contributed 786 million yuan, accounting for 22.53% of the total funds raised this time. Meanwhile, variety of investors, such as Beijing Energy Holding, Taikang Asset, UBS AG, Huaneng Guicheng Trust and other well-known investment institutions are also in the list, that the shareholder structure will be improved to bring more support and resources for the company.

The company stated that 3 Billion yuan of the funds is planned to be invested in the phase I (20GW) of 40GW monocrystalline silicon project which initiated by Shuangliang Baotou and 488 million yuan the rest to supply working capital.