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