Solar player poised to delist

Business | Avery Chen 20 May 2019

Mainland solar panel equipment making company Hanergy Thin Film Power (0566), whose shares have been suspended since May 2015, announced yesterday that its privatization plan has been approved and that it expected to withdraw its listing on the stock exchange on June 11.

According to Hanergy's statement, 91.12 percent of the number of scheme shares were in favor of the privatization plan at the court meeting.

At the shareholders' general meeting, the proposed privatization plan won the approval of 97.25 percent of the votes. Its parent Hanergy Mobile Energy said last November that it plans to privatize Hanergy Thin Film Power at a price of not less than HK$5 per share - 27.88 percent higher than the share price before trading was halted on May 20, 2015 - and relist on A-shares market.

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