11.8.2006: Meldung: ReneSola Commences Trading on the AIM

China based ReneSola Ltd , which manufactures solar wafers for integration into photovoltaic cells, the principal component of crystalline solar panels, announced that its shares commence trading on AIM today.

ReneSola has raised US$50 million (before expenses) through a placing of 33,333,333 shares (the "Placing"). At the Placing price of US$1.50 per share, ReneSola will have a market capitalization on admission of US$150 million.

The funds raised by the Placing will be used primarily to fund the expansion of ReneSola"s manufacturing facilities to capitalise on growth in the Chinese solar power industry which supplies both the fast growing domestic and export markets.

Commenting on the Placing and Admission, Li Xian Shou, Chief Executive Officer of ReneSola, said, "Demand for renewable energy solutions, and solar power technologies in particular, is growing at an unprecedented rate. ReneSola has already become a significant supplier of wafers to the PV industry. With our low cost production process, we expect our position in the market to grow as the capacity expansion programme continues. "We are delighted at the response from investors and we look forward to achieving our targets over the coming year."
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