5 July 2007
The London Stock Exchange is delighted to welcome Jetion Holdings Limited to AIM.
Jetion Holdings Limited is a fast growing Chinese manufacturer of solar cells and modules which commenced trading at the end of 2005 and is revenue generating and profitable.
The company announced the placing of 25,165,564 new ordinary shares at 151p per ordinary share to raise £30.5 million (gross of expenses). At the placing price, Jetion will have a market capitalisation of approximately £112 million.
The Group currently has two state-of-the-art 25 MW solar cell production lines, constituting 50 MW of capacity per annum, and has raised new funds to expand total production capacity to 100MW. The directors are seeking to take advantage of the growth potential of the global solar power industry. Over the last five years, annual industry growth has averaged 42 per cent.
Commenting on the admission to AIM, Dipesh Shah, Chairman said:
“The demand for solar energy is now gathering pace as technical developments and wider commercial applications are creating many opportunities in this rapidly growing market. Jetion has developed a reputation of quality and reliability, and the strategy is to develop our production capabilities to build a world leading solar business.”
Broker and Nomad: Collins Stewart
Financial PR: Buchanan Communications
Legal advisors: Hammonds