XINYU CITY, China and SUNNYVALE, Calif., March 26, 2013 /PRNewswire/ -- LDK Solar Co., Ltd. ("LDK Solar"; NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic products, today announced the sale of the remainder 12,000,000 newly issued ordinary shares of LDK Solar to Fulai Investments Limited, at a purchase price of $1.28 per share with an aggregate purchase price of $15,360,000, pursuant to the share purchase agreement dated January 21, 2013, as amended and supplemented by the parties.
Pursuant to the terms of the share purchase agreement, Fulai Investments Limited has the right to designate two non-executive directors to the LDK Solar board now that the parties have consummated the transactions pursuant to the agreement. The net proceeds will be used for general corporate purposes in LDK Solar's operations.
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's headquarters and principal 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. For more information about LDK Solar and its products, please visit
About Fulai Investments Limited
Fulai Investments Limited is a company incorporated and existing under the laws of the British Virgin Islands wholly owned by Mr. Cheng Kin Ming, a Chinese merchant conducting business in Hong Kong.
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