BAODING, China, April 23, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (YGE) ("Yingli Green Energy" or the "Company") today announced that it intends to offer, subject to market and other conditions, 25 million American Depositary Shares ("ADSs"), each representing one ordinary share of the Company, in an underwritten registered public offering. Yingli Green Energy intends to grant the underwriters an option to purchase up to 3.75 million additional ADSs to cover over-allotment.
Yingli Green Energy intends to use approximately 50% to 60% of the net proceeds from this offering for downstream expansion and use the remaining portion of the net proceeds for other general corporate purpose. The Company's management will have significant discretion in the allocation of the net proceeds that the Company may receive from the offering. Depending on future events and other changes in the business climate, the Company may determine at a later time to use the net proceeds for different purposes