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NEW YORK, Dec. 14 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE:STP), a leading global solar energy company, announced today that its initial public offering of 26,380,000 American Depositary Shares (ADSs), each ADS representing one ordinary share, has been priced at an initial public offering price of US$15 per ADS. The ADSs will begin trading today on the New York Stock Exchange under the symbol 'STP.'
The underwriters have been granted an option to purchase up to an aggregate of 3,957,000 additional ADSs within 30-days at the initial public offering price to cover over-allotments, if any.
Credit Suisse First Boston and Morgan Stanley acted as the joint book- runners and CLSA Limited and SG Cowen & Co. LLC acted as co-managers for the offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Suntech Power Holdings Co., Ltd.
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by production output in 2004. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures and markets a variety of high quality, cost effective and environmentally friendly photovoltaic (PV) solar cells and modules for electric power applications in the residential, commercial, industrial and public utility sectors. Suntech's customers are located in various markets worldwide, including Germany, Spain, China and the United States. For more information, please visit http://www.suntech-power.com/ .
For investor and media inquires, please contact:
In China:
Cindy Shao
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8534-5000
Email:
Philip Lisio
Ogilvy Public Relations Worldwide
Tel: +86-10-8520-6505
Mobile: +86-135-0116-6560
Email:
In the United States:
Thomas Smith
Ogilvy Public Relations Worldwide
Tel: +1-212-880-5269
Email:
DATASOURCE: Suntech Power Holdings Co., Ltd.
CONTACT: In China - Cindy Shao of Suntech Power Holdings Co., Ltd.,
+86-510-8534-5000, or ; or Philip Lisio, +86-10-8520-6505,
or mobile, +86-135-0116-6560, or , or in the United
States - Thomas Smith, +1-212-880-5269, or , both of
Ogilvy Public Relations Worldwide, for Suntech
Web Site: http://www.suntech-power.com/