yingli-scraps-equity-issue-in-favour-of-cb

Yingli scraps equity issue in favour of CB

The solar power company hopes to raise $150 million from the convertible bond alongside a $180 million sell-down by existing investors.

By Anette Jönsson

November 25, 2007

Solar power company Yingli Green Energy Holding has decided to scrap a plan to sell new shares as part of the upcoming sell-down by its pre-IPO investors, but will be offering investors a chance to participate in its expected growth through convertible bonds instead.

According to a new filing made with the US regulators on Friday, Yingli is now aiming to sell $150 million worth of CBs together with the seven million American depositary shares ADS offered by a group of existing shareholders. The initial filing made on November 7 was for a sale of 10 million ADS û three million new and seven million existing ones. Goldman Sachs is arranging the combined offering.

The...

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