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NEW YORK (AP) -- LDK Solar Co., a China-based maker of multicrystalline solar wafers, said Friday that its initial public offering of 17.4 million American Depositary Shares priced at $27 per ADS, the high end of its expected price range of $25 to $27.

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The ADSs, which represent one ordinary share of the company each, are expected to begin trading Friday on the New York Stock Exchange under the symbol "LDK."

LDK offered 13.4 million shares and a group of shareholders sold 4 million shares in the IPO.

LDK Solar also granted the underwriters an option to purchase up to an additional 2.6 million ADSs to cover overallotments.

LDK plans to use the net proceeds from the offering to expand production capacity, buy polysilicon feedstock and invest in research and development.

Morgan Stanley and UBS AG served as lead underwriters for the offering. Piper Jaffray, CIBC World Markets, and CLSA also sold shares to investors. JPMorgan Chase Bank is the depositary for the ADSs.

LDK sells its multicrystalline solar wafers to makers of solar cells and solar modules. In addition, the company provides wafer processing services to solar cell and module makers.

The company's U.S. headquarters are located in Sunnyvale, Calif.
 
aus der Diskussion: LDK Solar Waferproduzent Nr.2 oder 3 der Welt ist REC auf den Fersen
Autor (Datum des Eintrages): meinolf67  (01.06.07 16:21:24)
Beitrag: 2 von 19,060 (ID:29576067)
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