China, Oct. 5, 2009 (PRNewswire-Asia-FirstCall) -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA), a vertically integrated Chinese manufacturer of solar power products, announced today that its follow- on public offering of 15,500,000 American depositary shares, or ADSs, each representing two shares of no par value in the Company, was closed on October 5, 2009. The Company received aggregate net proceeds of approximately $70.7 million, after deducting discounts and commissions but before offering expenses.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 )
Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners for the offering, and Lazard Capital Markets LLC acted as a co-manager for the offering.
This offering is being made under ReneSola's "shelf" registration statement on Form F-3 filed with the Securities and Exchange Commission on June 25, 2009. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Application has been made for the 31,000,000 new shares in the Company issued in the offering to be admitted to trading on AIM. It is expected that admission will take place on October 6, 2009.
Copies of the final prospectus supplement and the accompanying prospectus may be obtained by contacting Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York 10010-3629, U.S.A., or by telephone at 1- 800-221-1037, or contacting UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., or by telephone at 1-877-827-6444 ext. 561-3884.
About ReneSola
ReneSola Ltd ("ReneSola") is a leading Chinese manufacturer of solar power products based in China. Capitalizing on proprietary technologies and technical know-how, ReneSola's vertically integrated manufacturing capabilities include virgin polysilicon, monocrystalline and multicrystalline solar wafers, solar cells and solar modules. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM: SOLA).
For investor and media inquiries, please contact:
In China:
Ms. Julia Xu
ReneSola Ltd
Tel: +86-573-8477-3372
Email: julia.xu@renesola.com
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvypr.com
In the United Kingdom:
Mr. Tim Feather / Mr. Richard Baty
Hanson Westhouse Limited, London
Tel: +44-20-7601-6100
Email: tim.feather@hansonwesthouse.com
richard.baty@hansonwesthouse.com
SOURCE ReneSola Ltd
