Canadian Solar’s Subsidiary Gets Green Light for STAR Market IPO
Solar panel manufacturer, CSI Solar Co. Ltd., has received approval for its proposed IPO on Shanghai’s high-tech board that could raise 4 billion yuan ($628 million). The money-losing firm is a majority-owned subsidiary of Nasdaq-listed Canadian Solar Inc.
Founded in 2001 by Chairman and CEO Shawn Qu, Canadian Solar splits its operations between Canada and China, producing solar module products that convert sunlight into electricity for various uses. In 2006, the company went public on the Nasdaq.
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