Dec 15, 2021 08:25 PM

TECH

Canadian Solar’s Subsidiary Gets Green Light for STAR Market IPO

By Chen Xuewan and Ding Yi

The solar photovoltaic panels developed by Atlas are on display at the 2020 Solar Photovoltaic Exhibition in Shanghai in August 2020. Photo: VCG

The solar photovoltaic panels developed by Atlas are on display at the 2020 Solar Photovoltaic Exhibition in Shanghai in August 2020. Photo: VCG

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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