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Sky Solar Announces Closing of Initial Public Offering and Exercise of Underwriters' Option to Purchase Additional ADSs

HONG KONG, Nov. 18, 2014 (GLOBE NEWSWIRE) -- Sky Solar Holdings, Ltd. ("Sky Solar") (Nasdaq:SKYS) today announced the closing of its initial public offering of 6,353,750 American depositary shares ("ADSs"), each representing eight of its ordinary shares, at a price to the public of US$8.00 per ADS, which includes the purchase of 828,750 ADSs by the underwriters upon exercise in full of their option to purchase additional ADSs. Sky Solar estimates net proceeds from the offering to be approximately US$46.1 million, after deducting underwriting discounts and commission and estimated offering expenses.

Roth Capital Partners acted as the sole book-running manager for the offering. Northland Capital Markets acted as the co-manager for the offering.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained by visiting EDGAR on the SEC web site at www.sec.gov or calling Roth Capital Partners at +1-800-678-9147.

"Northland Capital Markets" is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.

CONTACT: Investor Relations
         E-mail: IR@skysolarholdings.com

         Matthew Yeh
         Corporate Development Manager
         E-mail: Matthew.Yeh@skysolargroup.com
Sky Solar Holdings Ltd.