LDK Solar Files Registration Statement with the SEC for an Initial Public Offering of its American Depositary Shares
Xinyu City, China and Sunnyvale, CA, May 14, 2007 – LDK Solar Co., Ltd., a manufacturer of multicrystalline solar wafers, announced today that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission for a proposed initial public offering of 17,384,000 American Depository Shares ("ADSs"), representing 17,384,000 ordinary shares of the company.The proposed offering includes an offering of 3,991,900 ADSs by the selling shareholders named in the registration statement. Each ADS represents one ordinary share of the company. The price range for the offering is between US$25.00 and US$27.00 per ADS. LDK has applied to list its ADSs on the New York Stock Exchange under the symbol "LDK".
Morgan Stanley & Co. International plc and UBS AG will act as joint book-running managers for the offering. Piper Jaffray & Co., CIBC World Markets Corp., and CLSA Limited are serving as co-managers. JPMorgan Chase Bank, N.A. will act as the depositary for the ADSs.
A copy of the prospectus relating to these securities may be obtained, when available, from: Morgan Stanley & Co. Incorporated, Prospectus Department, 180 Varick Street, New York, NY 10014; Attention: Prospectus Department or by e-mail at email@example.com or UBS Investment Bank, Prospectus Department, c/o Clint Lauriston, 299 Park Avenue, New York, NY 10171; telephone number: 212-821-3884, fax number: 212-821-3285, email: firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall 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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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, the company 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. The company`s office in the United States is located in Sunnyvale, California.
safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although LDK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risk and uncertainties that could cause actual results to differ materially from those projected.