{"id":915,"date":"2021-12-20T13:00:00","date_gmt":"2021-12-20T04:00:00","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=915"},"modified":"2021-12-17T18:46:37","modified_gmt":"2021-12-17T09:46:37","slug":"canadian-solars-csi-solar-subsidiary-receives-approval-for-its-proposed-listing-by-the-shanghai-stock-exchange","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2021\/915.html","title":{"rendered":"CANADIAN SOLAR’S CSI SOLAR SUBSIDIARY RECEIVES APPROVAL FOR ITS PROPOSED LISTING BY THE SHANGHAI STOCK EXCHANGE"},"content":{"rendered":"

GUELPH,\u00a0ON<\/span>,\u00a0Dec. 13, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.<\/a><\/span>\u00a0(the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), announced today that its majority-owned subsidiary\u00a0CSI Solar\u00a0Co., Ltd. (“CSI Solar”)\u00a0<\/span>received approval for the proposed initial public\u00a0offering and<\/span>\u00a0listing of its shares by the stock listing committee of\u00a0the Science<\/span>\u00a0and Technology Innovation Board (“STAR Market”)\u00a0of the\u00a0Shanghai Stock Exchange.<\/span><\/p>\n

 <\/p>\n

On\u00a0December 13, 2021, the stock listing committee of the STAR Market\u00a0determined<\/span>\u00a0that\u00a0CSI Solar\u00a0had met the offering, listing and disclosure requirements related to its proposed STAR Market listing. As a next step,\u00a0CSI Solar\u00a0will be required to go through the registration process with the China Securities Regulatory\u00a0Commission before<\/span>\u00a0it can complete the\u00a0listing of its shares on the STAR Market.<\/span><\/p>\n

 <\/p>\n

Dr.\u00a0Shawn Qu, Chairman and CEO of\u00a0Canadian Solar\u00a0commented, “This is an important milestone for\u00a0Canadian Solar\u00a0and takes us another step closer towards the planned STAR Market listing of our subsidiary\u00a0CSI Solar. The\u00a0listing will provide us another platform to raise growth capital and solidify our industry-leading module brand and manufacturing business.”<\/p>\n

 <\/p>\n

He added, “After\u00a0CSI Solar’s\u00a0planned listing on the STAR Market<\/span>,\u00a0Canadian Solar\u00a0will remain<\/span>\u00a0as the majority and controlling shareholder of\u00a0CSI Solar\u00a0and the sole owner of the Global Energy business, which develops solar and battery storage projects\u00a0in\u00a0<\/span>more than 20 countries across the world. We remain strongly committed to our NASDAQ listing and expect long-term shareholders to share the growth benefits\u00a0of\u00a0<\/span>the planned STAR Market listing of\u00a0CSI Solar. We appreciate the\u00a0Shanghai Stock Exchange’s\u00a0continued efforts to open its financial markets and welcome international foreign issuers such as\u00a0Canadian Solar.”<\/p>\n

 <\/p>\n

The\u00a0<\/span>Company has completed the sale and transfer of the China Energy business from\u00a0CSI Solar\u00a0to the Global Energy business\u00a0to avoid any potential competition between the Company and its\u00a0CSI Solar\u00a0subsidiary.<\/span>\u00a0Therefore,\u00a0the China Energy business will not be part of the planned STAR Market listing. The scope of the sale and transfer includes all of\u00a0the\u00a0<\/span>solar energy project development and ownership business\u00a0in\u00a0China<\/span>. At the end of the third quarter of 2021,\u00a0the China Energy business<\/span>\u00a0had a total solar project pipeline of 2.3 GWp, of which 300 MWp were in backlog (late-stage), and 127 MWp of operating solar power plants. The sale and transfer is expected to take effect by the end of 2021 and\u00a0Canadian Solar’s\u00a0segment reporting going forward will reflect this change.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH,\u00a0ON,\u00a0Dec. 13, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the “Company”, or “Canad […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-915","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/915","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=915"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/915\/revisions"}],"predecessor-version":[{"id":916,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/915\/revisions\/916"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}