Sunways AG Saturday said it is increasing the company's share capital to 17,378,613 euros from 11,588,613 euros and only LDK Solar Germany Holding GmbH, an indirect subsidiary of LDK Solar Co. (LDK), Ltd., has been entitled to subscribe for the new shares.
The company issued 1,158,845 new shares for 2,201,805.50 euros and the remaining new shares are issued against contribution in kind. After the capital increase, LDK Solar Germany Holding will hold about 33 percent of the then existing share capital in Sunways.
LDK Solar Germany Holding intends to make a 1.90 euros per share cash voluntary public takeover offer for all outstanding shares in the company in late January 2012.
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