The board of directors of E-Ton Solar Tech on December 23 approved the issue of up to 300 million shares of common stock through private placement. The solar cell maker expects to raise up to NT$6 billion (US$201 million) through the issuance.
The fundraiser will be discussed at the company's special shareholders meeting on January 20, 2011.
E-Ton claimed the planned fund-raiser is aimed at strengthening its financial structure and competitiveness by bringing in new strategic partners. The company is still in talks with several potential investors.
In other news, fellow solar cell company Gintech Energy has announced plans to invest NT$220 million in a solar wafer plant in a move to secure upstream material supply for future expansions, according to a resolution passed by the company's board of directors on December 23.
Article translated by Jessie Shen
