comscore Hoku Corp. shares rise after it amends silicon supply deal | Honolulu Star-Advertiser
Top News

Hoku Corp. shares rise after it amends silicon supply deal

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.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments have been disabled for this story...

Scroll Up