ReneSola Closes Follow-on Public Offering
October 05 2009 - 11:18AM
UK Regulatory
TIDMSOLA
ReneSola Closes Follow-on Public Offering of 15,500,000 American Depositary
Shares
JIASHAN, China, Oct. 5 -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE:
SOL) (AIM: SOLA), a vertically integrated Chinese manufacturer of solar power
products, announced today that its follow-on public offering of 15,500,000
American depositary shares, or ADSs, each representing two shares of no par
value in the Company, was closed on October 5, 2009. The Company received
aggregate net proceeds of approximately $70.7 million, after deducting discounts
and commissions but before offering expenses.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 )
Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners
for the offering, and Lazard Capital Markets LLC acted as a co-manager for the
offering.
This offering is being made under ReneSola's "shelf" registration
statement on Form F-3 filed with the Securities and Exchange Commission on
June 25, 2009. This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
Application has been made for the 31,000,000 new shares in the Company
issued in the offering to be admitted to trading on AIM. It is expected that
admission will take place on October 6, 2009.
Copies of the final prospectus supplement and the accompanying prospectus
may be obtained by contacting Credit Suisse Securities (USA) LLC, Eleven
Madison Avenue, New York, New York 10010-3629, U.S.A., or by telephone at 1-
800-221-1037, or contacting UBS Investment Bank, Prospectus Department, 299
Park Avenue, New York, NY 10171, U.S.A., or by telephone at 1-877-827-6444
ext. 561-3884.
About ReneSola
ReneSola Ltd ("ReneSola") is a leading Chinese manufacturer of solar power
products based in China. Capitalizing on proprietary technologies and
technical know-how, ReneSola's vertically integrated manufacturing
capabilities include virgin polysilicon, monocrystalline and multicrystalline
solar wafers, solar cells and solar modules. ReneSola possesses a global
network of suppliers and customers that include some of the leading global
manufacturers of solar cells and modules. ReneSola's shares are currently
traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London
Stock Exchange (AIM: SOLA).
For investor and media inquiries, please contact:
In China:
Ms. Julia Xu
ReneSola Ltd
Tel: +86-573-8477-3372
Email: julia.xu@renesola.com
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvypr.com
In the United Kingdom:
Mr. Tim Feather / Mr. Richard Baty
Hanson Westhouse Limited, London
Tel: +44-20-7601-6100
Email: tim.feather@hansonwesthouse.com
richard.baty@hansonwesthouse.com
SOURCE ReneSola Ltd
CONTACT: Ms. Julia Xu, ReneSola Ltd, +86-573-8477-3372,
julia.xu@renesola.com, Mr. Derek Mitchell, Ogilvy Financial, Beijing, +86-10-
8520-6284, derek.mitchell@ogilvy.com; In the United States: Ms. Jessica Barist
Cohen, Ogilvy Financial, New York, +1-646-460-9989, jessica.cohen@ogilvypr.com;
In the United Kingdom: Mr. Tim Feather, tim.feather@hansonwesthouse.com or Mr.
Richard Baty, richard.baty@hansonwesthouse.com, Hanson Westhouse Limited,
London, +44-20-7601-6100
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030
Web site: http://www.renesola.com
(SOL SOLA.L)
END
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