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LDK Solar to Sell $15.4M Shares - Analyst Blog
3/28/2013 5:28:00 PM
LDK Solar Co., Ltd. ( LDK ) announced the sale of $15.4 million worth of its newly issued shares to Fulai Investments Limited. The company will sell 12.0 million shares priced at $1.28 per share each. The gains from this sale of shares will be utilized for general corporate purposes in LDK Solar's operations.
The company in late Feb 2013 declared the sale of $5.0 million shares to Fulai Investments at a purchase price of $1.83 per share, which came to an aggregate amount of $9.2 million.
Earlier, in Jan 2013, the company entered into an agreement to
sell $31.1 million worth of its outstanding shares to Fulai
Investments Limited. LDK Solar is trying to reduce its massive debt
burden of $3.1 billion through restructuring and the sale of
The company presently retains a Zacks Rank #3 (Hold). Other solar players currently performing well are Zacks Ranked #2 (Buy) Canadian Solar Inc. ( CSIQ ), ReneSola Ltd. ( SOL ) and STR Holdings, Inc. ( STRI ).
Based in Xinyu City China, LDK Solar and its subsidiaries are engaged in the design, development, manufacture, and marketing of photovoltaic ("PV") products; and development of power plant projects.
CANADIAN SOLAR (CSIQ): Free Stock Analysis Report
LDK SOLAR CO (LDK): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
STR HOLDINGS (STRI): Free Stock Analysis Report
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