HRX, which LDK says is partly-backed by the Chinese state, will purchase newly-issued shares for $0.86 each. The purchase will amount to "approximately 19.9% of the total issued and outstanding capital of LDK Solar prior to such issuance," says LDK.
The new investor will also get three new director seats on the LDK Solar board.
LDK revealed earlier this month that it was talking to two possible strategic investors, at the same time as it won a 12-month breathing space from its creditors after defaulting on some of its loan provisions.
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