LDK Solar Co., Ltd. (NYSE: LDK), a manufacturer of multicrystalline solar wafers, today priced a follow-on offering of 4,800,000 American depositary shares (ADS), 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.
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.
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