LDK Solar Announces Pricing of Follow-on Public Offering of 4.8 million American Depositary Shares

From MarketWatch:

LDK Solar, a manufacturer of multicrystalline solar wafers, today priced a follow-on offering of 4,800,000 American depositary shares ("ADSs"), 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...MORE