Sky Solar Holdings, a solar park developer, owner, and operator, has announced the receipt of a buyout offer from a group of investors.
“We believe that our proposal provides an attractive opportunity for the Company's shareholders. Our proposed purchase price represents a premium of approximately 81.3% to the closing trading price of the Company's ADSs on May 22, 2020, the last trading day prior to the date hereof, and a premium of approximately 94.0% and 109.2% to the volume-weighted average closing price of the Company’s ADSs during the last seven and thirty trading days, respectively.”
Letter sent to Sky Solar Holdings
While the offer has not yet been accepted, shareholders responded positively to the news, causing shares to reach a new 52 week high.