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The company will receive net proceeds of $192,384,000 from this offering.
LDK Solar plans to use around 60% of its net proceeds to fund the construction of its polysilicon manufacturing plant, around 30% to fund the capacity expansion of its wafer production facilities and around 10% to fund other general corporate activities.
China-based LDK Solar is a manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. The company also provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers.
LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California.
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