Meyer Burger closes CHF 250m share issue
- Meyer Burger Technology AG (SWX: MBTN) has completed a funding boost that brought gross proceeds of CHF 250 million (USD 253.05 m/EUR 254.2 m) to sustain the growth of the Swiss solar module supplier's annual production capacity to about 3 GW.
A total amount of 926.7 million new shares will be issued as a result of the capital boost, consisting of 17.9 million shares sold throughout the rights offering as well as 908.7 million new shares for which subscription rights have been worked out, the company claimed on Thursday. The shares were used at a price of CHF 0.267 apiece.
The new shares will certainly begin trading on the 6 Swiss Exchange on Friday.
"The effective funding rise enables Meyer Burger to seize the opportunity to accelerate its expansion to around 3 gigawatts of production capacity annually," stated chairman Franz Richter.
The fresh funding will certainly be invested in the expansion of solar cell manufacturing capacity at the Thalheim site in Germany in addition to increase solar module manufacturing at the Goodyear site in Arizona.