Yingli Planning Follow-On Offering to Fund Solar-Power Projects
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Yingli Green Energy Holding Co., the largest solar-panel maker, plans to sell 25 million American depositary receipts in a public offering to raise capital to build power plants.
Yingli expects to use as much as 60 percent of the proceeds for “downstream expansion,” the Baoding, China-based company said in a filing today. “We are considering various strategies to further develop downstream businesses.”