XINYU CITY, China and SUNNYVALE, Calif., Sept. 19
/PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (NYSE: LDK), a manufacturer of
multicrystalline solar wafers, announced today that it filed a shelf
registration statement on Form F-3 with the Securities and Exchange Commission
providing for the offering on a delayed or continuous basis of equity and debt
securities. In addition, LDK Solar filed a preliminary prospectus supplement
with the Securities and Exchange Commission for a proposed follow-on public
offering of American Depositary Shares ('ADSs'), each representing one
ordinary share. LDK expects the offering size to be approximately US$150
million. The ADSs to be sold in the offering are listed on the New York Stock
Exchange.
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.
UBS AG and Goldman Sachs (Asia) L.L.C. are acting as joint bookrunners for
the offering. LDK Solar's F-3 registration statement and preliminary
prospectus supplement are available from the SEC website at:
http://www.sec.gov.
A copy of the prospectus relating to the offering may be obtained by
contacting: UBS Securities LLC, 299 Park Avenue, New York, New York, 10171,
Attn: Prospectus Department (888-827-7275, ext. 3884). This press release is
not an offer to sell or the solicitation of an offer to buy securities. Any
offers of the above securities will be made pursuant to an effective
registration statement filed with the US Securities and Exchange Commission.
About LDK Solar
LDK Solar Co., Ltd. is a manufacturer of multicrystalline solar wafers,
which are the principal raw material used to produce solar cells. LDK sells
multicrystalline wafers globally to manufacturers of photovoltaic products,
including solar cells and solar modules. In addition, LDK Solar provides wafer
processing services to monocrystalline and multicrystalline solar cell and
module manufacturers. LDK's headquarters and manufacturing facilities are
located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the
People's Republic of China. LDK Solar's office in the United States is located
in Sunnyvale, California.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to, LDK
Solar's ability to raise additional capital to finance LDK Solar's activities;
the effectiveness, profitability, and marketability of its products; the
future trading of the securities of LDK Solar; the ability of LDK Solar to
operate as a public company; the period of time for which its current
liquidity will enable LDK Solar to fund its operations; LDK Solar's ability to
protect its proprietary information; general economic and business conditions;
the volatility of LDK Solar's operating results and financial condition; LDK
Solar's ability to attract or retain qualified senior management personnel and
research and development staff; and other risks detailed in LDK Solar's
filings with the Securities and Exchange Commission. These forward-looking
statements involve known and unknown risks and uncertainties and are based on
current expectations, assumptions, estimates and projections about LDK Solar
and the industry. These statements are based upon information available to LDK
Solar's management as of the date hereof. Actual results may differ materially
from the anticipated results because of certain risks and uncertainties.
LDK Solar undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although LDK Solar believes
that the expectations expressed in these forward-looking statements are
reasonable, they cannot assure you that their expectations will turn out to be
correct, and investors are cautioned that actual results may differ materially
from the anticipated results.
SOURCE LDK Solar
