Hoku Scientific (HOKU) Retains Deutsche Bank For Possible Sale Of Company

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02:01:29 pm on July 13, 2009

One month ago we first reported on Hoku’s financing concerns for the Idaho plant which sent the stock plunging 30%.  Hoku Scientific (HOKU) is taking another nose dive today (down 15%) after it reported that its financial troubles have forced the company to slow construction on its Idaho polysilicon plant while it looks for investors and/or a possible sale of the company.  By all indications, it appears this is a company that will soon enter bankruptcy if it can’t find a buyer soon.  The company has hired Deutsche Bank to act as an advisor in a possible sale.

“We are exploring any opportunities out there that could include the sale of Hoku Scientific,” Said CFO Darryl Nakamoto. “Or if someone says they’d only like to buy Hoku Materials, we would consider that. There’s also value to Hoku Solar on its own.” 

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