LDK Solar Co., Ltd.: Pricing of Follow-on Public Offering of 4.8 million American Depositary Shares
XINYU CITY, China and SUNNYVALE, Calif., LDK Solar Co., Ltd., a manufacturer of multicrystalline solar wafers, today priced a follow-on offering of 4,800,000 American depositary shares ("ADSs"), each representing one ordinary shares, at a price to the public of $41.75 per ADS. All the net proceeds from this offering will go to the Company.
LDK Solar expects to use approximately 60% of its net proceeds to fund the construction of its polysilicon manufacturing plant, approximately 30% to fund the capacity expansion of its wafer production facilities and 10% to fund other general corporate activities.
UBS AG and Goldman Sachs (Asia) L.L.C. are acting as joint bookrunners for the offering. LDK Solar's F-3 registration statement is available and the final prospectus supplement will be available from the SEC website at: http://www.sec.gov.
A copy of the final prospectus relating to the offering may be obtained by contacting: UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884). This press release is not an offer to sell or the solicitation of an offer to buy securities. Any offers of the above securities will be made pursuant to an effective registration statement filed with the US Securities and Exchange Commission.
About LDK Solar
LDK Solar Co., Ltd. is a manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California.
For more information contact:
The Blueshirt Group for LDK Solar
Executive VP and CFO
LDK Solar Co., Ltd.
SOURCE LDK Solar Co., Ltd.