Meyer Burger raised US$228 million in a share rights issue, with 97.54% of the available shares taken up through subscription rights offered to existing shareholders. The company’s largest shareholder, Sentis Capital, purchased 3.276 million shares at CHF32.7 million (US$36 million). This represents all of the subscription rights and an additional 1.186 million offered shares. Additionally, Meyer Burger placed all new shares for which subscription rights were not exercised during the subscription period with various institutional investors. The first trading day on the Swiss Exchange for these shares is expected on 5 April. This move comes as Meyer Burger is moving its manufacturing base across the Atlantic due to favourable incentives for clean energy equipment manufacturing under the US’ Inflation Reduction Act (IRA). The company closed 2023 with a net loss of US$330 million due to fluctuating Chinese prices and overcapacity in the European solar market.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
