LDK Solar (LDK) Approaching IPO of Poly Arm, Shares Rise
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LDK Solar Co. (NYSE: LDK) is closer to an initial public offering of its polysilicon unit in Hong Kong by launching roadshow, according to a report from Pacific Epoch citing an unnamed source.
The company has hired Citigroup Inc. (NYSE: C) to underwrite the IPO, which is seeking to raise between $700 million and $800 million.
Reports in early March had LDK preparing to list the poly unit in Hong Kong during the second half of this year to help fund production capacity expansion.
Shares of LDK are up 3.11 percent to $11.60 in premarket trade on Monday.
The company has hired Citigroup Inc. (NYSE: C) to underwrite the IPO, which is seeking to raise between $700 million and $800 million.
Reports in early March had LDK preparing to list the poly unit in Hong Kong during the second half of this year to help fund production capacity expansion.
Shares of LDK are up 3.11 percent to $11.60 in premarket trade on Monday.
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