Canadian Solar to buy back USD 150m in shares

Canadian Solar Inc (NASDAQ:CSIQ) on Monday announced the start of a USD-150-million (EUR 136m) share repurchase programme that will end on June 8, 2020.

The solar module maker and power producer's management will consider the market conditions, share price and other factors to determine when and how much shares to repurchase during that six-month period.

According to Canadian Solar CEO Shawn Qu, company's shares are trading below book value and significantly below intrinsic value.

"We have confidence in the company's long-term business plan and prospects and believe there is considerable value in investing in Canadian Solar shares" he noted.

(EUR 1.0 = USD 0.9)

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