Dallas, Texas 07/16/2013 (Financialstrend) – LDK announced its results in the annual general meeting in July 2013. Based on the share purchase agreement on April 2013, the company announced the sale of 25,000,000 shares in its new issue to Fulai Investments Ltd at a rate of $1.03 per share. This sale will bring in an amount of $25,750,000 to the company. The company failed to repay its debt for the last year, and the panel prices across the world have been depressed due to huge volume of manufacturing of the solar products. During June 2012, Solar Power Inc. acquired the total number of shares of solar green technologies, a fully owned subsidiary of LDK Solar Holdings.
LDK Solar is the manufacturer of photovoltaic products such as solar wafers, solar cells, solar modules and solar farm related products. LDK announced its insurance secure product incorporating additional coverage with insured warranty, one year all risk insurance and inherent defect coverage. LDK solar secure insurance has underwritten its various products across the globe since 2012 covering more than 100 Megawatt of installed capacity.
Intraday range was between a low price of $1.49 and a high price of $1.77. The share price of LDK Solar Co., Ltd (ADR) (NYSE:LDK) closed for the day at $1.75, recording an increase of 21.53%. The price range of LDK Solar for the last 52 weeks was from a low of $0.71 to a high of $2.32. The stock opened at the price of $1.50 on Monday with a market capitalization of $277.95 million and 158.83 million outstanding shares. With an institutional ownership of 7%, the trading volume for the day of LDK Solar was 6.22 million and the average trading volume was 1.78 million shares.