JA Solar Surges on CEO Proposal to Take Company Private

(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

ordinary shares.

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.

To contact the reporter on this story:

Justin Doom in New York at

jdoom1@bloomberg.net

To contact the editors responsible for this story:

Reed Landberg at

landberg@bloomberg.net

Robin Saponar

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us