Friday, June 1, 2007

China's LDK Solar Co. raises $469 mln in IPO

NEW YORK, May 31 (Reuters) - An initial public offering from China's LDK Solar Co. Ltd. on Thursday raised $469 million, with shares pricing at the top of a forecast range.

The 17.38 million American depositary share offering sold for $27 per share compared with a $25 to $27 forecast, according to an underwriter.

Each ADS represents one ordinary share.

Underwriters, led by Morgan Stanley and UBS Investment Bank, have the option to purchase an additional 2.6 million ADSs to cover overallotments, according to documents filed with the U.S. Securities and Exchange Commission.

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