omniture

GCL-Poly Raises HK$3.68 Billion through Placement of New Shares

GCL-Poly Energy Holdings Limited
2009-08-04 09:23 1873

Strengthened capital structure for further business expansion

HONG KONG, Aug. 4 /PRNewswire-Asia/ -- GCL-Poly Energy Holdings Limited ("GCL-Poly" or the "Company", stock code: 3800, together with its subsidiaries, the "Group") announced today the successful placement of 1,300,000,000 new shares at HK$2.83 per share to raise HK$3.68 billion. Upon completion of the share placement, the number of shares in issue will increase from 11,062,746,214 to 12,362,746,214 shares. The placing will enable the Company to broaden its shareholding base and enhance its financial status. The proceeds raised will mainly be applied to lower the Company's debt level. It will further strengthen the Company's capital structure to make room for new business developments.

About GCL-Poly Energy Holdings Limited (stock code: 3800)

GCL-Poly Energy Holdings Limited is a world leading polysilicon manufacturer for the solar industry and a leading green power operator in China. Production capacity of GCL Solar, a subsidiary of the Group, is expected to reach 18,000 metric tonnes of polysilicon by the end of 2009, and 1 GW of solar wafers by mid 2010. In addition, the Group operates a total of 18 cogeneration power plants, 1 incineration power plant and 1 windpower plant. Most of these plants are located in Jiangsu and Zhejiang provinces with strong economic growth and robust demand for electricity and steam. All these plants are advocated and encouraged by Chinese government.

For more information about GCL-Poly, please visit the company's website at http://www.gcl-poly.com.hk .

Press Enquiry:

GCL-Poly Energy Holdings Limited:

Mr. Zhou Jiangbo

Tel: +852-3761-3138

Email: zhoujiangbo@gcl-power.com.hk

GCL Solar Energy Technology Holdings Inc.

Ms. Stephanie Lau

Tel: +852-2526-8368

Email: stephanielau@gclsolarenergy.com

Porda International (Finance) PR Group

Ms. Harriet Lau

Tel: (852) 3150 6761

Email: harriet.lau@pordafinance.com.hk

Ms. Sharis Siu

Tel: +852-3150-6771

Email: sharis.siu@pordafinance.com.hk

Ms. Ada Leung

Tel: +852-3150-6732

Email: ada.leung@pordafinance.com.hk

Source: GCL-Poly Energy Holdings Limited
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