Friday, December 2, 2011
JA Solar Completes Purchase of Langfang Wafer Maker
On 1 Dec 11, JA Solar said it has completed the purchase of a Chinese monocrystalline wafer supplier to increase capacity and cut costs. The company said today in a statement that it issued 30.9 million ordinary shares to buy Solar Silicon Valley Electronic Science and Technology Co. When JA Solar announced the deal in July, it said it would issue the 30.9 million shares at $5.825 each at the time of closing, about a 5 percent premium over the price of its American depositary receipts the day before the purchase was disclosed. That valued the Langfang, China-based wafer maker at $180 million.