Cleary Gottlieb represented the underwriters in a $486 million SEC-registered initial public offering of LDK Solar Co., Ltd. Morgan Stanley and UBS Investment Bank acted as book-running manager for the offering, and Piper Jaffray, CIBC World Markets and CLSA Asia-Pacific Markets were co-managers. The ADRs began trading on the NYSE on June 1.
LDK is a leading manufacturer of multicrystalline solar wafers, the principal raw materials used to produce solar cells. LDK is based in Xinyu City, Jiangxi Province, China.