SAN FRANCISCO and WUXI, China, May 29 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. ("Suntech" or the "Company") (NYSE: STP), the world's
largest manufacturer of crystalline silicon photovoltaic (PV) modules, today
announced that its follow-on public offering of 23,000,000 American Depositary
Shares ("ADSs"), each representing one ordinary share of the Company, was
closed on May 28, 2009. The aggregate amount of ADSs sold reflects the
exercise in full by the underwriters of their option to purchase up to
3,000,000 additional ADSs to cover over-allotments. The Company received
aggregate net proceeds of approximately $277 million, after deducting
underwriting discounts and commissions and estimated offering expenses payable
by the Company.
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.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon
photovoltaic (PV) modules. Suntech designs, develops, manufactures, and
markets premium-quality, high-output, cost-effective and environmentally
friendly solar products for electric power applications in the residential,
commercial, industrial, and public utility sectors. Suntech's patent-pending
Pluto technology for crystalline silicon solar cells improves power output by
up to 12% compared to conventional production methods.
Suntech also offers one of the broadest ranges of building-integrated
solar products under the MSK Solar Design Line(TM). Suntech designs and
delivers commercial and utility scale solar power systems through its wholly
owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and
will own and operate projects greater than 10 megawatts in the United States
through Gemini Solar Development Company, a joint venture with Renewable
Ventures, a Fotowatio company. With regional headquarters in China,
Switzerland and the United States and sales offices worldwide, Suntech is
passionate about improving the environment we live in and dedicated to
developing advanced solar solutions that enable sustainable development.
For more information, please contact:
Investor Relations Director
Suntech Power Holdings, Co. Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.