JA Solar Holdings Co., Ltd. (JASO) today announced that its board of directors has approved a share repurchase program, effective immediately, that authorizes JA Solar to repurchase up to a US$100 million worth of its issued and outstanding American Depositary Shares (“ADSs”) prior to September 30, 2012.
This repurchase program is about of 50% of JASO’s current market cap. $100M worth of buyback might be a big enough to create a large short squeeze and keep the stock afloat (above $1) to prevent a possible JASO delisting from the NASDAQ.
Shanghai JA Solar PV Technology Co., Ltd.
NO.36, Jiang Chang San Road, Zhabei, Shanghai200436, China
Tel: +86 21 6095 5888 / +86 21 6095 5999
Fax: +86 21 6095 5858 / +86 21 6095 5959
JA Solar Holdings Co., Ltd. is a world-leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The company is committed to develop and provide the world with clean and renewable energy to ease the energy shortages as well as human kind’s impact on the environment.