SPI - SPI Energy stocks jump on board's approval to spin off Solar Juice via IPO
The board of directors of SPI Energy (SPI) approved the plan to spin off its Solar Juice subsidiary through an initial public offering.The company will retain majority ownership of Solar Juice after the spin off. Mr. Xiaofeng Peng, Chairman & Chief Executive Officer of the Company, commented, "Solar Juice is a leader in Asia Pacific market, and we believe we can unlock greater value of this business through a successful spin off." Pending lawsuit against certain minority stockholders of 80% owned subsidiary in Australia has been dismissed after settlement deed.Shares up 8.6% premarket.Also read: 'SPI Energy: How I Missed A 13-Bagger In One Day.'
For further details see:
SPI Energy stocks jump on board's approval to spin off Solar Juice via IPO