Struggling PV manufacturer LDK Solar is issuing another tranche of shares to Fulai Investments in return for US$25.75 million.
Fulai Investments is to purchase the additional 25,000,000 newly issued ordinary shares of LDK Solar, at a purchase price of US$1.03 per share, an 8% discount to the five-day average share price.
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LDK Solar expects the transactions to provide US$15 million in funds in May and a further US$10.75 million in June.
