North Coast Solar Stocks

May 29, 2009

Suntech Closes Follow-On Public Offering of 23,000,000 ADSs

Filed under: STP — Tags: , , , — Jason @ 8:00 am

Friday May 29, 2009, 8:00 am EDT

SAN FRANCISCO and WUXI, China, May 29 /PRNewswire-Asia/ — Suntech Power Holdings Co., Ltd. (“Suntech” or the “Company”) (STP), the world’s largest manufacturer of crystalline silicon photovoltaic (PV) modules, today announced that its follow-on public offering of 23,000,000 American Depositary Shares (“ADSs”), each representing one ordinary share of the Company, was closed on May 28, 2009. The aggregate amount of ADSs sold reflects the exercise in full by the underwriters of their option to purchase up to 3,000,000 additional ADSs to cover over-allotments. The Company received aggregate net proceeds of approximately $277 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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