Riemann Assists Shenglong in Its Pre-IPO Investment

2010-03-22 20:52 1576

SHANGHAI, March 23 /PRNewswire-Asia/ -- Riemann Investment Holdings Ltd. ("Riemann Investment"), as the sole financial advisor and one of the leading investors, advised Shenglong PV-Tech Investment Co. Ltd ("Shenglong PV-Tech") on its pre-IPO private placements which were successfully closed in early Feb. 2010. The Company intends to get listed on KRX's KOSDAQ market by June 2010.

Shenglong PV-Tech raised 12 million in USD convertible bonds with the participation of Hyundai China-Solarcell Bond Trust, Korea Investment Partners Co. Ltd, Suzhou Industry Development Venture Capital and Riemann Investment Holdings Limited. The current round of funding will equip the company with adequate financial support for its pre-IPO business development and capacity expansion plan. As highly recognized PE funds, Hyundai China-Solarcell Bond Trust and Korea Investment Partner Co., Ltd's investment also represents their confidence in the company's business development and management team.

Suzhou Shenglong PV-Tech Co., Ltd, the Chinese domestic operating entity of Shenglong PV-Tech, is located in the center of the prosperous Yangtze Delta Region - Zhang Jia Gang City. The Company is a fast growing professional solar cell and module manufacturer and provider, which has established a vertically integrated solar value chain from silicon ingots, wafers, cells as well as solar modules. The Company's products are highly recognized by overseas customers due to their distinguished quality and stable conversion ratios. The products are mainly exported to European countries such as Germany, with a stably increased customer base and market share. In the meantime, the Company is also actively developing emerging solar consumer markets such as Korea.

Source: Riemann Investment Holdings Ltd.