China's Shunfeng Photovoltaic International Ltd, a solar cell maker and solar power station operator, plans to issue HK$6 billion ($775 million) worth of new shares, seeking funds to build more solar power stations.
Shunfeng plans to sell up to 600 million new shares, representing 28.2 percent of its existing share capital, at up to HK$10 apiece, it said in a filing to the Hong Kong bourse.
The issue price represents a 8.9 percent discount to the stock's previous close.
Hedge funds are ditching their ambitions of pioneering Western-style high-speed trading strategies in China's fledgling equity derivatives market and are styling themselves as traditional asset managers to weather an intensifying regulatory crackdown.
As China accelerates the opening up of its $45 trillion financial sector, global players are eyeing a share of the pie. However, lawyers say that while liberalization brings opportunities, it also leads to increased regulatory requirements.