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LDK Solar to raise 300 million via Nasdaq
By AMY CHEUNG
Published: October 03, 2006 12:00 AM
Chinese solar power equipment maker LDK Solar Hi-Tech plans to raise about 300 million US dollars in a listing on the U.S. Nasdaq stock market next year, Reuters reported, citing the South China Morning Post. LDK Solar would join several other mainland solar power companies that plan to list in New York to cash in on soaring global demand for energy, which has helped push oil prices to record highs and has made alternative energy sources more economically viable. Solar cell maker Yingli Solar plans to raise about 400 million US dollars in a U.S. listing, while Trina Solar Energy and Linyang Solarfun aim to raise between 100 million US dollars and 150 million US dollars in IPOs, the newspaper said. Jiangxi province-based LDK would award a mandate for the share sale in about two weeks, the newspaper quoted market sources as saying. New regulations governing the transfer of assets overseas required for a listing in New York had forced some Chinese solar firms to delay their IPOs from this year to next year.
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