Following in the footsteps of Suntech Power Holdings, two more of China’s top solar photovoltaic manufacturers are seeking to avoid having their American depository receipts (ADRs) delisted on US securities markets.
China-based solar panel manufacturer Suntech is being sued by two US investor groups that allege the company failed to disclose a EUD560m (USD687m) bond pledge.
Asian solar stocks on Thursday echoed a rally by their US peers, with some surging as much as 20 percent on signs that prices for solar energy components are stabilizing, reports Reuters.
In Hong Kong, GCL-Poly Energy Holdings Ltd was up 13.2 percent, Trony Solar Holdings Co Ltd rose 8.3 percent, Apollo Solar Energy Technology Holdings Ltd firmed 3.5 percent and Solargiga Energy Holdings Ltd climbed 13.2 percent. South Korea's OCI Co Ltd jumped 14.9 percent.
NYSE-listed LDK Solar has bought back USD110m of its American Depository Shares (ADSs) on the belief that the shares are 'grossly undervalued', according to NewNet.
This report by the World Bank spells out what the world would be like if it warmed by 4 degrees Celsius, which is what scientists are nearly unanimously predicting by the end of the century, without serious policy changes.
Companies in Asia reveal expectations that regulations that could lead to rising costs for reporting and reducing GHG emissions will also be the main sources of climate-related business opportunities.
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