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July 17 (Renewables Now) – JA Solar Holdings Co Ltd (NASDAQ: JASO) is no longer listed after a group led by its president and CEO has completed the buyout of the company.
requested that the trading of its US Stockholder (ADS) shares on the Nasdaq Stock Market be suspended as of July 17, 2018. The contract was signed in November when a group led by CEO Baofang Jin has agreed to take control of the company and write it off to $ 362 million (309 million euros). Under the terms, each common share of JA Solar will be canceled and will cease to exist in exchange for the right to receive $ 1.51 in cash interest free. The ADS holders, each representing five shares, will receive USD 7.55 each in interest-free cash.
Jin and a few other existing shareholders must renew their JA Solar shares in the transaction, which was approved by JA Solar shareholders in March.
(1.0 USD = 0.852 EUR)
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