Quantcast

Friday, July 25, 2014         

 Print   Email   Most Popular   Save   Post   Retweet

Hoku Corp. shares rise after it amends silicon supply deal

By Star-Advertiser Staff

POSTED:



Honolulu-based Hoku Scientific said it amended a supply pact with Chinese solar panel maker Suntech Power and entered into a credit agreement to replace payments previously expected from Suntech.


Hoku, which signed a $28.3 million credit agreement with the China Construction Bank, said Suntech no longer had to make the $30 million prepayment.


Hoku said it would retain the $2 million that Suntech had already paid, which will be credited against future shipments of polysilicon.


Hoku has been struggling to raise capital for  its $390-million polysilicon plant to being built in Idaho.
Late last year Hoku sold a minority stake to China's Tianwei New Energy Holdings Co -- which now owns about 60 percent of its outstanding shares -- to raise funds to finish the plant.


Hoku shares rose 10 cents, or 3.1 percent, to close at $3.34 today on Nasdaq.







 Print   Email   Most Popular   Save   Post   Retweet

IN OTHER NEWS
Breaking News
Blogs
Volley Shots
Fey, Enriques on MJNT

Political Radar
Wilhelmina Rise, et al.

Court Sense
Cold War

Political Radar
Climate change

Island Crafters
YouCanMakeThis.com

Warrior Beat
Empty pit

Political Radar
Switch

Political Radar
`Progressive hero’