Monday, June 27, 2011

LDK ADS price is grossly undervalued: Announces Share Repurchase Program

As we previously estimated LDK is highly undervalued

See our post and comment from May 23, 2011:

XINYU CITY, China and SUNNYVALE, Calif., June 27, 2011 /PRNewswire via COMTEX/ --
LDK Solar Co., Ltd. (NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic products, today announced that its Board of Directors approved a share buyback program that authorizes LDK Solar to repurchase up to US$110 million of its American Depository Shares ("ADSs") in the open market or through privately negotiated transactions. The program does not obligate LDK Solar to acquire any particular amount of its ADSs and may be modified or suspended at any time at the sole discretion of LDK Solar.

Mr. Xiaofeng Peng, Chairman and CEO of LDK Solar, commented, "We remain confident in our current outlook as well as the long-term prospects for our business. However, we believe our ADSs are currently grossly undervalued. We believe our share buyback program not only represents a good investment for our company, but also demonstrates our commitment to enhance shareholder value." 

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