LDK Solar announces closing of follow-on public offering of 16.52mn American depositary shares

XINYU CITY, CHINA & SUNNYVALE, USA: LDK Solar Co. Ltd, a leading manufacturer of multicrystalline solar wafers, closed a follow-on offering of 16,520,000 American depositary shares, each representing one ordinary share, at a price to the public of $7.00 per ADS. The Company has received net proceeds of $111,014,400 from this offering.

LDK Solar expects to use approximately US$90.0 million of its net proceeds to pay down short-term debt and the remaining net proceeds to fund the polysilicon production plant and the expansion of the solar module business, and for general corporate purposes.
Morgan Stanley and Citi acted as joint bookrunners for the offering.

LDK Solar's F-3 registration statement and the final prospectus supplement are available from the SEC website.