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SOL - ReneSola announces buyback of ADSs from its Singaporean unit
Renesola Ltd. ADR
ReneSola ( NYSE: SOL ) said Wednesday it would buyback 3 million ADSs from ReneSola Singapore at a price of $4.4 per ADS, totaling US$13.2 million in a private transaction.
The company also said that Shah Capital will purchase the remaining 2.05 million ADSs owned by ReneSola Singapore at $4.4 per ADS, for proceeds totaling $9.02 million, through a privately negotiated transaction.