Citigroup (NYSE:C), Deutsche (NYSE:DB), UBS (NYSE:UBS) Joint Book Runners on LDK Solar (NYSE:LDK) Offering

LDK Solar (NYSE:LDK) announced they're going to offer 12 million American Depositary Shares on the NYSE, with Citigroup Global Markets Inc. (NYSE:C), Deutsche Bank Securities Inc. (NYSE:DB) and UBS AG (NYSE:UBS) acting as joint book runners for the offering.

The solar company said they're going to use the capital for general corporate purposes.

In the early part of January LDK also said they were going to acquire a 70 percent stake in Solar Power Inc. in order to expand its North American footprint to meet growing demand.

Underwriters in the offering will receive an over-allotment option to acquire up to an additional 15 percent of the overall shares in the offering.

LDK Solar closed Wednesday at $13.02, losing $0.35, or 2.62 percent.