Yingli Offering Rakes in $193M
Vertically integrated photovoltaic product manufacturer Yingli Green Energy (NYSE:YGE) announced June 23 that it earned net proceeds of about $192.6 million, after deducting offering expenses, from its offering of 18.6 million American Depositary Shares (ADS). The offering closed on June 22, the company said.
Yingli announced an initial price of $13/ADS on June 17 and said net proceeds would go to pay down existing debts.
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