Meyer Burger Technology Ltd (SIX: MBTN) today publishes the issue and listing prospectus for the planned ordinary capital increase with targeted gross proceeds of CHF 165 million. Furthermore, trading in subscription rights on SIX Swiss Exchange and the subscription period for the new shares starts today.
The Extraordinary General Meeting on 10 July 2020 approved an ordinary capital increase with planned gross proceeds of CHF 165 million with 81.4 percent. A condition for the implementation of the capital increase is that gross proceeds of at least CHF 150 million are raised. The subscription period for the new shares begins today, 14 July 2020 and will end on 22 July 2020 at 12:00 noon CEST. Trading of the subscription rights on SIX Swiss Exchange will also start today and will end on 20 July 2020. The listing and first trading day of the new registered shares on SIX Swiss Exchange are expected to become effective on 29 July 2020.
From machine supplier to a technologically leading manufacturer of solar cells and modules
As announced on 19 June 2020 (see press release), the proceeds from the ordinary capital increase shall be used to finance the establishment of production capacities for technologically leading solar cells and solar modules in Germany. With the transformation of the business model from a machine supplier to a manufacturer of solar cells and modules, the company plans to significantly expand its value chain in order to become sustainably profitable. Meyer Burger aims to benefit in the long term from the technological and cost leadership of its proprietary and patent-protected heterojunction/smartwire technology (SWCT). The business with standard equipment and the service business will continue unchanged.
