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Chinese PV Industry Brief: Microinverter manufacturer Hoymile raises $880 million through IPO

A micro-inverter from Hoymile.
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Microinverter manufacturer Hoymile announced that it has successfully completed its initial public offering with the Shanghai Stock Exchange (SSE). The Hangzhou-based company offered 10,000,000 shares at a price of RMB557.8 per share. The capital raised through this IPO is estimated to be RMB5.58 billion (US$879 million).

Polysilicon maker and inverter company TBEA announced on Friday a plan to build 200 MW worth of solar PV farms in Hangtang County, Hebei Province. The company will invest around RMB851 million, and RMB340 million (around US$132million and US$52.7million), respectively.

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PV manufacturer Solargiga has announced the sale of its Solargiga Energy (Qinghai) Co Ltd subsidiary, which sells PV equipment and components and manufactures non-metallic mineral products and electronic special materials. Luo Qian will pay RMB53.9 million (US$8.49 million) for 50.5% of the shares in the unit held by Solargiga, and Bao Quanjun which like Luo already holds a 24.5% stake in the company, will pay RMB534,000 (US$84,000) for the remaining 0.5% held by Solargiga. The solar manufacturer said on Wednesday it will book a profit of RMB670,000 (US$105,000) on the transaction and expects to bank a net income of RMB54.4 million (US$8.56 million) from the deal. Solargiga is selling because of the unit’s small manufacturing capacity and “aging production lines.”

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Source: pv magazine