Canadian Solar to list shares in module business in China

Solar power company Canadian Solar Inc. said on Monday it intends to list shares in its photovoltaic module and systems business either on the Shanghai Stock Exchange Science and Technology Innovation Board or in the Shenzhen Stock Exchange ChiNext Market.

Canadian Solar issued a written announcement saying it will seek to sell equity to investors in China with a view to listing stock there within two years.

The announcement quotes Canadian Solar Chairman Shawn Qu as saying floating shares in China will be a new way to raise capital to invest in solar power projects in every major market around the world.

In April Canadian Solar said it had obtained US$30 million from the China-Portuguese-speaking Countries Cooperation and Development Fund in Macao to build solar farms in Brazil.