{"id":1265,"date":"2023-06-09T05:00:00","date_gmt":"2023-06-08T20:00:00","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1265"},"modified":"2023-06-23T16:18:04","modified_gmt":"2023-06-23T07:18:04","slug":"canadian-solars-subsidiary-csi-solar-completes-its-ipo-process-and-starts-trading-on-the-shanghai-stock-exchange","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2023\/1265.html","title":{"rendered":"CANADIAN SOLAR&#8217;S SUBSIDIARY CSI SOLAR COMPLETES ITS IPO PROCESS AND STARTS TRADING ON THE SHANGHAI STOCK EXCHANGE"},"content":{"rendered":"\n<p>GUELPH, ON,&nbsp;June 9, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc<\/a>. (the &#8220;Company&#8221; or &#8220;Canadian Solar&#8221;) (NASDAQ: CSIQ) today announces that its majority-owned subsidiary&nbsp;CSI Solar Co., Ltd.&nbsp;(&#8220;CSI Solar&#8221;) has completed its initial public offering (&#8220;IPO&#8221;) process and its shares started trading on the&nbsp;Shanghai Stock Exchange&#8217;s&nbsp;Sci-Tech Innovation Board on&nbsp;June 9, 2023&nbsp;under the stock code 688472.&nbsp;<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In the IPO,&nbsp;CSI Solar&nbsp;issued 541,058,824 shares, representing 15% of 3,607,058,824 shares outstanding immediately after the IPO. In addition,&nbsp;CSI Solar&nbsp;has granted the principal underwriter of the IPO a 30-day option to purchase up to an additional 81,158,500 shares of&nbsp;CSI Solar&nbsp;to cover over-allotments, if any. The total shares issued by&nbsp;CSI Solar&nbsp;will be 622,217,324, representing approximately 17% of 3,688,217,324 shares outstanding after the IPO, assuming that the over-allotment option is exercised in full.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The shares were issued at a public offering price of&nbsp;RMB11.10&nbsp;per share and the total gross proceeds of the IPO are approximately&nbsp;RMB6.0 billion&nbsp;(approximately&nbsp;US$850 million). Immediately after the IPO,&nbsp;Canadian Solar&nbsp;owns approximately 64% of&nbsp;CSI Solar, assuming the over-allotment option is not exercised, or approximately 62% of&nbsp;CSI Solar, assuming that the over-allotment option is exercised in full.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The shares of&nbsp;CSI Solar&nbsp;will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in&nbsp;the United States&nbsp;absent registration or an applicable exemption from registration requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GUELPH, ON,&nbsp;June 9, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;Canadian Solar Inc. (the &#8220;Company&#8221; or [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1265","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1265"}],"version-history":[{"count":3,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1265\/revisions"}],"predecessor-version":[{"id":1274,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1265\/revisions\/1274"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}