Suntech Power Holdings declares pricing of follow-in public offering

22nd May 2009

Suntech Power Holdings, a manufacturer of silicon photovoltaic modules, said its follow-on public offering of 20,000,000 American Depositary Shares, each representing one share of the company, was priced at $12.50.

The company has granted underwriters UBS Investmetn Bank, Goldman Sachs and Deutsche Bank Securities an option to purchase up to 3,000,000 additional ADS’ to cover over-allotments. The offering is being made under the company’s shelf registration statement filed with and declared effective by the US Securities and Exchange Commission.

The company intends to use the net proceeds from the offering for capital expenditures, working capital and repurchase and redemptions of its existing securities.

Tags: solar
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