星期日, 4月 11, 2021
Home PV Companies LDK Solar To Sell Plant Stake For $219 Mln; Shares Rise

LDK Solar To Sell Plant Stake For $219 Mln; Shares Rise

LDK Solar Co. (LDK) agreed to sell a 15% stake in a polysilicon plant to Jiangxi


International Trust & Investment Co. for $219 million, strengthening the wafer


maker's financial position as it weathers the downturn in solar-power demand.


Wall Street applauded the deal, sending LDK shares up 12% to $7.51 in after-hours


trading. That rise puts the stock just over double the 52-week low eight months


ago, but it remains down more than half from the high in January.


The solar company has been grappling with weak demand since the oil bubble popped last year and the financial crisis tightened credit. However, Chairman and Chief


Executive Xiaofeng Peng said in August that demand was beginning to turn more positive.


The plant in Xinyu City, China, has an annual capacity of 15 million metric tons.

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