PVTIME – Arctech Solar Holding Co., Ltd. (Arctech, 688408.SH), a leading manufacturer and supplier of intelligent solar trackers, fixed-tilt structures and BIPV systems for utility and commercial solar PV projects worldwide, has recently announced that it plans to issue shares to certain parties, raising total proceeds of 1,101,289,994.00 yuan.
The net proceeds of 1,083,225,696.74 yuan, after deducting the issue expenses of 18,063,297.26 (excluding VAT), will be used for the expansion of its parallel driver of PV tracking system, a PV industrial park project of Arctech Solar in Susong, a solar tracker production base in western China, the construction of an R&D laboratory and to supplement working capital.
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