Xinyi Solar, a Chinese solar glass manufacturer, has closed a $167 million share issue.
The company’s parent company, Xinyi Glass, issued 380 million of Xinyi Solar shares.
The figure equated to about 4.96 percent of Xinyi Solar and with the stock offered at $0.44 per share.
The company raised the funds to extend its operations, whereby, the company is anticipating a $166.8 million windfall towards its project development and solar glass production capacity extension plans.