Tongwei issues shares to fund expansion: In a company announcement, Tongwei said that it will further enhance the scale of its existing solar cell business and consolidate its leading position. The company disclosed a report on the issuance of fixed increments, where it said that 213 million shares have been issued at the rate of RMB 28 ($4.28) per share and a total of RMB 5.98 billion ($.91 billion) has been raised. As per its plan, the funds will be directed towards 7.5 GW high-efficiency crystalline silicon solar cell smart factory in Meishan (Phase II) and Jintang (Phase I). Tongwei, a vertically integrated companies, is currently expanding on many levels, among others, it teamed up with Trina Solar for part of this ( see Tongwei & Trina Solar Joint Venture For 210 Products ).