yingli-prices-us-share-sale-at-tight-25-discount

Yingli prices US share sale at tight 2.5% discount

The Chinese solar power company raises close to $203 million of new capital for debt repayments, while the chairman realises $39 million by selling a small portion of his holdings.

US-listed Yingli Green Energy's follow-on share sale, which was in the market on Tuesday, was priced at a tight 2.5% discount to that day's close and upsized by the maximum 20% after attracting strong demand both from long-only investors and hedge funds. This resulted in a total deal size of $241.8 million.

As reported by FinanceAsia yesterday, Yingli's share price gained on Tuesday, after the company's chairman and CEO, Miao Liansheng, said that Yingli has experienced a substantial increase in demand since the start of the year and expects to see at least a 70% increase in shipments in the second quarter over those in the first quarter. According to people close...

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