Saturday, June 10, 2017

JA Solar received takeover bid from BVI company

JA Solar Holdings Co., world leading manufacturer of high-performance solar power products, received a non-binding takeover offer from its Chief Executive Baofang Jin, and Jinglong Group Co. Ltd., a British Virgin Islands company of which Mr. Baofang Jin is the sole director. The offer is for US$6.80 in cash per American depositary share, which represents five ordinary shares, or US$1.36 per ordinary share.

The offer will be reviewed with financial and legal advisers. It is said in the statement issued by JA Solar Holdings: "The special committee cautions the company's shareholders and others considering trading in the company's securities that no decision has been made by the special committee or the board with respect to the revised proposal."