Canadian Solar reveals updates on IPO of CSI Solar

CSI Solar array

Canadian Solar subsidiary CSI Solar plans to issue 541,058,824 shares, representing 15 percent of 3,607,058,824 shares outstanding immediately after the IPO, according to the updated IPO prospectus and indicative timetable.

In addition, CSI Solar plans to grant the principal underwriter of the IPO a 30-day option to purchase up to an additional 81,158,500 shares of CSI Solar to cover over-allotments, if any.

CSI Solar plans to issue 622,217,324 shares, representing approximately 17 percent of 3,688,217,324 shares outstanding immediately after the IPO, assuming that the over-allotment option is exercised in full.

CSI Solar will conduct a road-show with potential investors between May 23, 2023 and May 25, 2023. The pricing of the IPO is expected to be confirmed by the Shanghai Stock Exchange on May 29, 2023.

The issuance and subscription date of the IPO is expected to be on May 31, 2023. The final IPO share placement and share allocation are expected to be confirmed on June 5, 2023. The final IPO results are expected to be announced by the Shanghai Stock Exchange on June 6, 2023.