Oct. 11 (Bloomberg) -- China’s Shunfeng Photovoltaic International Ltd. plans to raise as much as HK$1.12 billion ($144 million) selling shares to build solar farms.
The Changzhou, China-based company will sell 400 million new shares at HK$2.50 to HK$2.80 apiece, according to a term sheet.
Shunfeng said Oct. 9 that its unit, Jiangsu Shunfeng Photovoltaic Technology Co., bid to acquire stock in Wuxi Suntech Power Co. and that the purchase may be funded by raising debt or capital or by forming a joint venture or partnership.
--Feifei Shen. Editors: Madelene Pearson, Abhay Singh