(Bloomberg) — JA Solar Holdings Co., a Chinese solar
manufacturer, is evaluating a buyout offer from Chief Executive
Officer Baofang Jin.
The board has formed a committee to consider the proposal
to take the Shanghai-based company private, JA Solar said in a
statement Monday. Shaohua Jia, who was appointed as an
independent director in 2012, will lead the committee.
The proposed group of buyers comprises Jin and closely held
Jinglong Group Co., of which Jin is the sole director.
Jin on June 5 offered to buy the company’s outstanding
American depositary receipts, each worth five ordinary shares,
at a 20 percent premium. The ADRs gained 12 percent that day. JA
Solar rose 0.1 percent to $9.18 at the close in New York on
Monday.
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Robin Saponar