HEBEI, China, Sep 20, 2007 (PrimeNewswire via COMTEX News Network) -- JA Solar Holdings Co., Ltd. ("the Company") (Nasdaq:JASO) today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed registered offering of 4,000,000 ADSs by the Company and an aggregate of 2,350,000 ADSs by certain selling shareholders. Each ADS represents three ordinary shares of the Company. The Company is expected to grant the underwriters a 30-day option to purchase an additional 952,500 ADSs to cover over-allotments, if any.
The selling shareholders include entities controlled by the Company's chairman (Jinglong Group Co., Ltd), chief executive officer (Improve Forever Investments Limited) and chief technology officer (Express Power Investments Limited), as well as the Company's chief financial officer. Jinglong Group Co., Ltd ("Jinglong Group"), the Company's largest shareholder, is expected to own approximately 25.3% of the Company's share capital after the offering (assuming no exercise of the underwriters' over-allotment option).
Credit Suisse Securities (USA) LLC and Lehman Brothers Inc. will act as joint book-running managers, with CIBC World Markets Corp. and Piper Jaffray & Co. as co-managers.
Copies of the preliminary prospectus relating to the offering may be obtained, when available, by calling +1-800-221-1037 (Credit Suisse Securities (USA) LLC) or +1-888-603-5847 (Lehman Brothers Inc.).
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy ordinary shares or ADSs of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. |
About JA Solar Holdings Co., Ltd.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing manufacturer of high-performance solar cells. The Company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "will," "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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SOURCE: JA Solar
Jinlin Liu, Vice President
The Ruth Group