Q-Cells SE (QCE) rose the most in six weeks in Frankfurt after an administrator said several parties had shown interest in the German solar-cell and module maker that filed for insolvency this month.
Q-Cells climbed 21 percent to 16 euro cents at the close, the steepest gain since March 12, after preliminary insolvency administrator Henning Schorisch said “interested parties” including financial and strategic investors in Germany and other countries contacted him after the April 3 insolvency filing.
“Our aim is to save as much of Q-Cells as possible,” Schorisch said today in a statement. “The next few weeks will show the extent of investors’ interest.”
German solar companies have struggled with reduced government aid and competition from Chinese companies that created a glut of solar panels. Q-Cells, once the biggest solar- cell maker, Solon SE (SOO1), Solar Millennium AG (S2M) and Solarhybrid AG (SHL) all filed for insolvency since December.
Schorisch hired Deloitte Touche Tohmatsu Ltd.’s Frankfurt office to search for investors amid a plan to sell Q-Cells to one or several buyers, according to the statement. The company based in Thalheim, Germany, has resumed production of cells and modules, according to the statement.
The company has lost 70 percent of its value this year.
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