Solar Strategy Holdings, a Hong Kong-based developer of rooftop solar installations, raised the proposed deal size for its upcoming IPO on Friday.
The Hong Kong, China-based company now plans to raise $25 million by offering 6.3 million shares at a price of $4. The company had previously filed to offer 1.5 million shares at the same price. At the proposed price, Solar Strategy Holdings will raise 317% more in proceeds than previously anticipated.
Solar Strategy Holdings is a Hong Kong–based developer and EPC provider focused on distributed solar energy projects. It develops, constructs, and operates solar photovoltaic (PV) systems, primarily on rooftops across residential, commercial, industrial, school, and village house properties. Founded in 2019, it has been active in expanding rooftop solar installations in Hong Kong and manages projects from development through long-term operation.
Because Solar Strategy Holdings will now command a market cap of more than $50 million, it will be eligible for inclusion in Renaissance Capital’s IPO statistics.
Solar Strategy Holdings was founded in 2019 and plans to list on the Nasdaq under the symbol SSTR. Kingswood Capital Markets is the sole bookrunner on the deal.
