Jiangxi province-based LDK had a working-capital deficit in excess of $1.3bn as of 30 September, according to its latest quarterly report. By comparison, competitors Trina Solar and First Solar had working capital surpluses of $870m and $1.16bn, respectively, at the end of the third quarter of last year. l LDK Solar has achieved an annual wafer manufacturing capacity of 3GW, enabling it "to capitalise on the demand for its PV products".
Funds pump $240m into LDK's polysilicon unit
A group of investment funds affiliated with major Chinese banks is sinking$240m into the polysilicon subsidiary of LDK Solar.. China Development Bank Capital, a wholly owned subsidiary of China Development Bank; China Construction Bank investment fund affiliates Excel Rise Holdings and Prosper East; and another fund affiliated with a third, unnamed "major Chinese bank" will together hold series-A redeemable convertible preferred shares representing about 18.5% of LDK Silicon & Chemical Technology, LDK's polysilicon subsidiary.
6 January 2011 23:00 GMT
Updated
25 November 2012 15:18 GMT
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