LDK Solar seeks review of suspension and delisting decision by NYSE

By Kali Hays

New York, April 16 - LDK solar Co., Ltd. has asked for a review of the New York Stock Exchange's decision to suspend trading of the company's American depositary shares and begin delisting proceedings, according to a Wednesday news release from the company.

The company expects to participate in a hearing before the committee of the board of directors for the NYSE in the next two to four months.

In its request of the review, the company argued that it should remain listed on the NYSE until it has completed its ongoing restructuring efforts, according to the release.

As previously reported, the company entered restructuring support agreements from holders of its 10% senior notes due 2014 and convertible preferred shares and a commitment from shareholder Heng Rui Xin Energy (HK) Co., Ltd. for up to $14 million in interim financing.

In a prior news release, the company also said that restructuring support agreements have been signed by "approximately 60% in aggregate principle amount of the company's 10% senior notes due 2014 and the holders of approximately 79% of the convertible preferred shares issued by an affiliate of the company and involving claims against the company."

LDK Solar is a manufacturer of photovoltaic products based in Xinyu City, China.

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