Wednesday, December 12, 2007

Yingli Offering Prices at $31 Per ADS

Associated Press | December 11, 2007

Yingli Green Energy Holding Co. Ltd. on Tuesday said its offering of 5.6 million American Depositary shares priced at $31 apiece.

The Chinese solar wafer maker also said its $150 million offering of convertible senior notes due 2012 priced at about 23 U.S.-listed shares per $1,000. That represents a conversion price of about $43.40 per share.

The company has granted its underwriters an option to buy up to an additional $22.5 million worth of notes and 840,000 shares to cover any over-allotments.

Yingli plans to use proceeds from the offerings to pay for additional manufacturing capacity and other corporate purposes.

Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are serving as joint bookrunners for the offerings, while Piper Jaffray & Co. is serving as co-manager.

Each ADS represents one ordinary share, Yingli said.

Yingli ADS fell $1.56, or 4.6 percent, to $32.04 in morning trading.

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