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.
Headquartered
in
Xinyu
city
in Jiangxi
province,
LDK
Solar
has
debts
of
$3.1bn
and
is
struggling
to
generate
cashflow
as
prices
and
demand
for
its
products
decline.
The
new
stake
sale…
