Proceeds used for general corporate purposes in LDK Solar's operations
By Devika Patel
Knoxville, Tenn., Jan. 22 - LDK Solar Co., Ltd. said it will raise $31.11 million in a private placement of shares on Monday. Fulai Investments Ltd. is the investor.
The company will sell 17 million ordinary shares at $1.83 per share. The price per share is identical to the Jan. 18 closing share price.
Proceeds will be used for general corporate purposes in LDK Solar's operations.
LDK Solar is a manufacturer of photovoltaic products based in Xinyu City, China.
| Issuer: | LDK Solar Co., Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | $31.11 million
|
| Shares: | 17 million
|
| Price: | $1.83
|
| Warrants: | No
|
| Investor: | Fulai Investments Ltd.
|
| Pricing date: | Jan. 21
|
| Stock symbol: | NYSE: LDK
|
| Stock price: | $1.83 at close Jan. 18
|
| Market capitalization: | $240.41 million
|
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