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Yingli Green Energy Announces Pricing of Follow-on Public Offering of 25 Million American Depositary Shares

published: 2014-04-28 11:19

Yingli Green Energy Holding Company Limited announced on April 25th that its follow-on public offering of 25 million American Depositary Shares ("ADSs"), each representing one ordinary share of the Company, was priced at $3.50 per ADS. Yingli Green Energy has granted the underwriters a 30-day option to purchase up to 3.75 million additional ADSs to cover over-allotments.

Yingli Green Energy intends to use the net proceeds of US$83.0 million it receives from this offering for downstream expansion and other general corporate purposes. In particular, it intends to use approximately US$55 million to invest in the downstream solar projects together with Shanghai Sailing Capital Management Co., Ltd. The Company's management will have significant discretion in the allocation of the net proceeds that the Company may receive from the offering. Depending on future events and other changes in the business climate, the Company may determine at a later time to use the net proceeds for different purposes.

Deutsche Bank Securities Inc. and Goldman Sachs (Asia) L.L.C. are acting as the joint bookrunners for the offering. HSBC Securities (USA) Inc. is acting as a co-manager for the offering.

The offering is being made under an effective registration statement on Form F-3 initially filed by Yingli Green Energy with the U.S. Securities and Exchange Commission on September 6, 2013, as amended. The offering of the ADSs is being made only by means of a preliminary prospectus supplement and the accompanying prospectus. 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. Yingli Green Energy's registration statement on Form F-3 and the preliminary prospectus supplement and the accompanying prospectus are available from the SEC website at: //www.sec.gov.

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