01:33 PM EDT, 03/17/2025 (MT Newswires) -- Emeren Group ( SOL ) shares rose 36% in recent Monday trading after the solar company's largest shareholder proposed buying the rest of the stock in a "going private" transaction.

Himanshu H. Shah and Shah Capital Opportunity Fund, which own 36% of Emeren ( SOL ), made a preliminary nonbinding proposal of $2 apiece for the outstanding shares, according to a securities filing.

The offer represents a 68% premium over the company's closing stock price on Friday, Shah Capital said Monday in a letter to Emeren's ( SOL ) board.

The Shah parties "will be willing to entertain long-term shareholders that would like to participate in this go-private transaction," the letter said.

The Shah parties plan to finance the transaction with cash.

Emeren ( SOL ) didn't immediately respond to a request for comment from MT Newswires.

Price: 1.62, Change: +0.43, Percent Change: +36.13