The Chinese wafer maker says Fulai Investment – a company incorporated in the British Virgin islands and owned by Hong Kong-based businessman Cheng Kin Ming – will purchase 17 million newly-issued shares of LDK Solar at a purchase price of $1.83 per share.
The proceeds will be used for “general corporate purposes”, says LDK. Fulai has the right to appoint two non-executive directors to the LDK board.
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