NYSE Euronext’s Alternext Welcomes CNPV

Riemann Investment Holdings Ltd. (“Riemann Investment”), as the sole financial advisor and the cornerstone investor, advised Dongying, Shandong Province-based China Photovoltaic Group Ltd. (“CNPV”) on its successful listing on NYSE Euronext's Alternext Paris market on 14 August 2008. The company raised EUR 5.12m in the first round, and becoming the first renewable energy company from China listed on NYSE Euronext’s European markets and the third Chinese company listed on Alternext .

Under the ticker symbol “ALCNP”, CNPV’s market capitalization at listing amounted to EUR 60.1m with an issue price of EUR 11.80 and closed at EUR 12.35 on its debt.

Founded in 2006 and managed by a highly experienced international team with over 20 years of technological and managerial expertise in the solar energy sector, CNPV is specialised in developing and manufacturing solar modules for a wide array of users ranging from residential to industrial and commercial uses.

The listing on Alternext constitutes an important step in the evolution of CNPV’s strategy and is aimed at raising stronger capital base, enhancing its international profile so as to capture more opportunities in the fast-growing European solar energy market. CNPV plans to use the capital raised to move upstream to the manufacture of silicon ingots, wafers and cells in order to capture margins at various stages of production and benefit from substantial economies of scale.
     
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