DJ Sky Solar Holdings Shares Rise 11% After Winding Up Petition Struck Out
By Chris Wack
Sky Solar Holdings Ltd. shares were up 11%, to $9.55, after the company said that Wednesday, the winding up petition, in respect of the company filed by Hudson Capital Solar Infrastructure GP in its capacity as general partner of Hudson Solar Cayman LP, was struck out by the court in the Cayman Islands.
As the company announce, on Sept. 8, Square Acquisition Co.'s tender offer to purchase all of the issued and outstanding ordinary shares of Sky Solar expired.
Through the offer, Square Acquisition accepted for payment all ordinary shares validly tendered pursuant to the offer, and ordinary share and ADS holders whose ordinary shares and ADSs were accepted in the offer were paid 30 cents per ordinary share or $6 per ADS.
Following the completion of the offer and the striking out of the Winding Up Petition, the company and Square Acquisition Co. intend to effect the previously announced merger, with Sky Solar as the surviving entity.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 07, 2020 10:23 ET (14:23 GMT)
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