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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 to 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 its parent company, Canadian Solar Inc. ("CSIQ"), a NASDAQ-listed company, so as to obtain a listing qualification in China, and it has laid a solid foundation for Canadian Solar International to establish a layout in the capital market later. After this transaction is completed, Canadian Solar International, Ltd. will prepare the spin-off and listing in accordance with the relevant Chinese laws and regulations.

Established in 2009, Canadian Solar International, Ltd. is a major enterprise responsible for the components 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 market layout, CSIQ has established 15 photovoltaic silicon wafer, battery and module manufacturing enterprises in six different countries and regions. It has also established more than 40 branches in over 20 countries and regions and established cooperative partnership with 73 international leading banks and financial institutions around the world. It 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 "China's Top 500 Enterprise" 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 to Canadian Solar International, Ltd., and participated in the entire process of the financing project. JunHe’s team participated in the design of the transaction structure, conducted legal due diligence and issued the due diligence report, reviewed and amended the transaction documents, conducted negotiations and communicated with the investors on behalf of the client, and provided full legal services for the entire process of the transaction. In addition, JunHe assisted the client in signing the contracts and closing of the transaction. This was a spin-off financing project for a US listed company. Facing the challenge brought on by the uniqueness and complexity of this spin-off project, JunHe won the full recognition and high praise of the client 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.