LDK Solar raising $150 million for polysilicon and wafering plants

LDK Solar has filed a preliminary prospectus with the Securities and Exchange Commission for a proposed follow-on public offering of American Depository Shares, expected to generate $150 million. The funds will be used for the construction, currently ongoing, of its major polysilicon plant as well as expanding its wafer production.

Approximately 60 percent of the net proceeds will go towards the polysiliocn plant, with approximately 30 percent allocated to the capacity expansion of its wafer production facilities and 10 percent to fund other general corporate activities.