Jianxi, China-based solar wafer manufacturer LDK purchases extra American depositary shares from their 1.65 million stocks through their underwriters.
With each ordinary share priced at $7, the decision for buying extra shares had been made after an ensuing offer was given by LDK Solar last December 18. $115.5 million had already been raised from the deal for the 16,520,000 American depositary shares, with $90 million going to payment of debts. The left over net proceeds will then be used to finance the polysilicon production plant, the development of the solar module business, and for other general corporate objectives. Book runners for the offering had been Morgan Stanley