The newly combined solar company is expected to trade on the Nasdaq stock exchange under the ticker symbol TOYO. (Source: Shutterstock)
Japan-based solar cell manufacturer Toyo Co. and special purpose acquisition company Blue World Acquisition Corp. have completed their combination with Abalance Corp. subsidiary Vietnam Sunergy Cell Co. Ltd., according to a news release July 2.
The company is expected to trade on the Nasdaq stock exchange under the ticker symbol TOYO.
“We believe TOYO will uphold its commitment to becoming a reliable provider of comprehensive solar solutions globally,” Blue World CEO Liang Shi said in the release. “The upcoming Nasdaq listing will serve as a catalyst, significantly enhancing TOYO’s international reach by strengthening its brand with potential U.S. customers and unlocking broader access to capital.”
Toyo is a holding company wholly owned by Abalance Corp. subsidiary Fuji Solar Co.
“We feel fortunate to embark on a new journey becoming a U.S.-listed company through the business combination with Blue World,” said Toyo CEO Junsei Ryu. “We are committed to powering the world with green and clean energy and showcasing our quality products and services on a larger global stage.”
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