ET Solar Announces US$50 Million Private Equity Placement
NANJING, China, July 6, 2011 /PRNewswire-Asia/ — ET Solar Group Corp. (“ET Solar”), a solar power one-stop solution provider, today announces a US$50 million common equity issuance to an existing investor of ET Solar.
Mr. Fischer Chen, Vice President and Chief Financial Officer of ET Solar, commented: “The transaction demonstrates our existing investor’s confidence on ET Solar and the growth prospect of solar industry. It will strengthen our ability to increase our vertical integration and expand our manufacturing capacity that is a very important factor for our growth and competitiveness going forward.”
In total, ET Solar has raised approximately US$100 million proceeds through the issuance of preferred and convertible shares and common shares since 2008.
About ET Solar
ET Solar is a solar power one-stop solution provider. With local sales and marketing subsidiaries and offices in Asia, Europe, and North America, ET Solar has provided solar modules, solar tracking systems and turnkey solutions services to its customers in over 50 countries. To learn more about ET Solar, visit http://www.etsolar.com.
SOURCE ET Solar Group Corp.