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Shunfeng halts dealing in front of 540 project capacity sale that is MW

Shunfeng halts dealing in front of 540 project capacity sale that is MW

The planned disposal of greater than a 3rd for the Chinese company that is solar task portfolio would simply just take a substantial chunk away from its debt hill but trading in business stock ended up being halted today, pending an announcement with regards to the task purchase. Shunfeng sold down German PV project monitoring company meteocontrol to another procedure owned by its main shareholder by the end of a year ago.

Shunfeng is amongst the Chinese solar developers shuffling round the cash to try to keep carefully the wolf through the home.

Chinese company that is solar Global Clean Energy announced a halt in trading in its stocks this early morning, pending a statement associated with a fire purchase of approximately 540 MW of its solar task ability.

The business has already established a busy time from it since our final change in-may a year ago whenever the level of its financial obligation hill had been revealed with its full-year numbers for 2018.

Since that time, a proposed sale of their Jiangsu Shunfeng Photovoltaic tech Co Ltd to a company owned by Shunfeng major shareholder Cheng Kin Ming has helped relieve some issues while the business now is designed to sell down 11 of the Chinese solar task businesses to make benefits well worth another RMB1.63 billion (US$232 million).

Wuxi Suntech and meteocontrol

The purchase of Jiangsu Shunfeng to your Asia Pacific Resources Development Investment Ltd company owned by Chen Kin Ming in December raised a sudden RMB200 million to repay RMB24.7 million debts owed by Shunfeng to Shanghai Dazong Financial Leasing Co Ltd, COSCO Shipping Leasing Co Ltd and Cinda Financial Leasing Co Ltd and in addition paid other financial obligation interest of RMB110 million along with settling payables worth around RMB65.7 million. Læs videre Shunfeng halts dealing in front of 540 project capacity sale that is MW