LDK Sells More Shares to Fulai as Founder Stake Shrinks

LDK Solar Co., a Chinese solar manufacturer burdened with $2.8 billion in debt, agreed to sell more shares to investor Cheng Kin Ming’s Fulai Investments Ltd., boosting his stake in LDK to 25 percent and diluting that of its biggest holder, founder and chairman Peng Xiaofeng.

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