Solar wafer maker Sino-American Silicon Products (SAS) plans to issue new shares to raise paid-in capital by NT$8-10 billion (US$264-330 million) ahead of a move to list its subsidiary GlobaWafers on Taiwan's over-the-counter (OTC) securities market, according to industry sources.
SAS holds a 96.92% stake in GlobalWafers, a semiconductor wafer maker that is expected to list on the OTC market in 2015, the sources said.
SAS is likely to use the additional capital to expand its solar operations, according to industry sources, adding SAS may acquire or form strategic partnerships with solar cell or module firms, with Solartech Energy being a likely target.
As prices for solar wafers are quite unlikely to rise but easy to drop due to price competition from China-based makers, SAS has been mulling non-operating investment in downstream PV business to secure sale of its solar wafers, the sources said.
SAS has invested in Taiwan-based monocrystalline silicon solar cell maker Sunrise Global Solar Energy and acquired Germany-based own-brand PV module maker Aleo Solar AG.
