Yingli Green Energy Raises $83 Million On Share Offering


Yingli Green Energy Holding Co. Ltd. has closed its follow-on public offering of 25 million American depositary shares (ADS), each representing one ordinary share of the company.

Yingli reports it has received approximately $83 million in the ADS offering after deducting underwriting discounts, commissions and estimated expenses.

The company says it intends to use the net proceeds from the offering for downstream expansion and other general corporate purposes. In particular, it intends to use approximately $55 million to invest in downstream solar projects in partnership with Shanghai Sailing Capital Management Co. Ltd.

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