SPI Energy Co., Ltd. a global provider of photovoltaic (PV) solutions for business, residential, government, utility customers and investors, recently announced that its application to list the Company’s American depositary shares on the Nasdaq Global Select Market has been approved by Nasdaq.The Company expects its American depositary shares to commence trading on January 19, 2016 under the ticker symbol “SPI”. Upon commencement of trading on Nasdaq Global Select Market, the Company’s American depositary shares will cease to trade on the OTC Markets.
SPI Energy has a growing portfolio of solar power projects and investments and is benefiting from strong demand for green energy solutions globally, especially in China. In January 2015, SPI Energy launched an innovative e-commerce and investment platform, Solarbao.com, which has already provided Chinese investors with access to more than 100 green energy projects and financing products, bringing new financing solutions to China’s ambitious target of 100 gigawatts of solar PV installations by 2020 as outlined by China’s National Energy Administration.
“This move to the Nasdaq Global Select Market, which has one of the highest listing standards in world, is a reflection of the strength of the Company, the tremendous growth opportunities ahead and our continued commitment to our shareholders,” said Xiaofeng Peng, Chairman of SPI Energy. “We are pleased to be joining many of the world’s largest and most revolutionary companies already trading on this exchange. This is an important milestone for us and speaks to the innovative spirit of our team as we transition SPI Energy to become a truly global green energy Internet company.”