The cash will go to the solar energy provider's solar modules and systems subsidiary, CSI Solar, in advance of a planned IPO in China.
Canada-based solar power and technology producer Canadian Solar has agreed to raise RMB1.78bn ($261m) for the spinoff of its CSI Solar subsidiary, at a valuation of $1.1bn.
Approximately $219m of the capital will be provided by investors including alternative asset management group CDH Investments and SIP Oriza PE Fund Management, part of investment manager Oriza Holdings.
About $4.5m of shares will be bought by Canadian Solar employees at the same $1.1bn valuation, while employees and board members are set to…
