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JunHe Assists Canadian Solar International, Ltd. to Complete their Spin-off Financing


Recently, Canadian Solar International, Ltd., a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, completed a spin-off financing of RMB 1.78 billion. The lead investors were Oriza Holdings and CDH Investment. JunHe, acting as the financing and listing counsel of Canadian Solar International, Ltd. provided complete legal services throughout the entire process of the project. The acquisition of capital financing was a crucial step for Canadian Solar International, Ltd. to split from Canadian Solar Inc. ("CSIQ"), the parent company of the NASDAQ-listed business. JunHe assisted the company in obtaining a listing qualification in China, and it has laid a solid foundation for Canadian Solar International to follow-up their layout of the capital market. Canadian Solar International, Ltd. shall prepare the spin-off listing plan in accordance with the Chinese laws and regulations after this transaction is completed.

Established in 2009, Canadian Solar International, Ltd. is a subsidiary responsible for the modules and systems solutions business of CSIQ. CSIQ was founded in 2001 by Dr. Qu Xiaohua, a solar energy expert. CSIQ was first listed on the NASDAQ Stock Exchange in 2006 and was the first Chinese photovoltaic integrated enterprise to be listed on the NASDAQ. With a diversified development strategy and the market layout, CSIQ has established 15 photovoltaic silicon wafer, battery and module manufacturing facilities in six different countries and regions. It has also established more than 40 branches in over 20 countries and regions and established cooperative partnerships with 73 international leading banks and financial institutions around the world. CSIQ is a leading global solar energy company with comprehensive strength, and has been awarded the title of "China's Top 500 Foreign Trade Enterprise" and "Fortune”500 China for many years. As a global leading manufacturer of solar photovoltaic modules and a solar integrated solutions provider, CSIQ has a wealth of utility-scale solar photovoltaic power station projects currently worldwide.

JunHe acted as the legal counsel of Canadian Solar International, Ltd., and participated in the process of the spin-off financing transaction structure design. The team carried out due diligence and reviewed and amended the transaction text. JunHe’s team conducted negotiations and communicated with the investors on behalf of their clients and provided comprehensive legal services for the entire process of the transaction. In addition, JunHe assisted their clients in signing and delivering the contracts. This project was a spin-off financing project by a US listed company. Facing the challenge of the uniqueness and complexity of this spin-off financing project, JunHe won the full recognition and praise from their clients with their consistent rigorous and efficient working style and meticulous and dedicated attitude.

The leading partners of the project were Mr.WANG, Yi and Mr. JIANG, Wenjun (Kelvin).

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.