The Chinese solar power company is trying to narrow its working capital deficit to stay in business. If it doesn’t successfully execute its liquidity plan, it might not be able to continue as a going concern. Proceeds of the plan would be used to reduce short-term debt and fund its polysilicon production plant as well as the planned expansion of its solar-module business.
Today the company announced the sale of at least 16.5 million American depositary shares for $7 each.
Stocks of the company (NYSE: LDK) were down $1.01, or 12.88 percent, to $6.83 in morning trading.
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