JA Solar appoints outside specialist to advise on founder’s de-listing petition

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  JA Solar has appointed an outside financial advisor and legal counsel to advise on the petition by its chairman and CEO, Baofang Jin to take the company private and de-list from the NYSE. Image: JA Solar.

Financials

• SOL
  NYSE
  1.31
  -0.01 (-0.76%)
  4:02PM EDT

Major PV manufacturer JA Solar has appointed an outside financial advisor and legal counsel to advise on the petition by its chairman and CEO, Baofang Jin to take the company private and de-list from the NYSE. 

The special committee of its board of directors, fronted by two of JA Solar’s independent directors has appointed the firms of Houlihan Lokey (China) Limited as its financial advisor and Gibson, Dunn & Crutcher LLP as its legal counsel. 

JA Solar has not provided any timelines to which a decision will be made and reiterated that any definitive agreement on the proposal is not guaranteed.