(Bloomberg) — JA Solar Holdings Co., a Chinese solar
manufacturer, advanced the most since 2013 after the company’s
chief executive officer proposed paying a premium to scoop up
outstanding shares and take the company private.
JA Solar’s American depositary receipts jumped 12 percent
to close at $9.07 in New York. Earlier, shares rose 16 percent,
the most intraday since Sept. 4, 2013. Each ADR is worth five
Chief Executive Officer Baofang Jin proposed paying $9.69
per ADR, according to a statement Friday from the Shanghai-based
photovoltaics manufacturer, a 20 percent premium to Thursday’s
closing price. The company’s board will form a special committee
to consider the offer.
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