Yingli Green Energy Prices Public Offering Of 25 Mln ADSs At $3.50/ADS

(RTTNews) - Yingli Green Energy Holding Company Limited (YGE) announced that its follow-on public offering of 25 million American Depositary Shares or "ADSs", each representing one ordinary share of the Company, was priced at $3.50 per ADS.

The company has granted the underwriters a 30-day option to purchase up to 3.75 million additional ADSs to cover over-allotments.

The firm said that it intends to use the net proceeds of $83.0 million it receives from this offering for downstream expansion and other general corporate purposes. In particular, it intends to use approximately $55 million to invest in the downstream solar projects together with Shanghai Sailing Capital Management Co., Ltd.

The company's management will have significant discretion in the allocation of the net proceeds that the Company may receive from the offering. Depending on future events and other changes in the business climate, the Company may determine at a later time to use the net proceeds for different purposes.