Yingli Green Energy, a vertically integrated Chinese manufacturer of solar cells and modules, priced its 29.0 million ADS offering at $11, the low end of the proposed $11-$13 range. The company plans to use the proceeds to fund raw materials purchases and its aggressive capacity expansion strategy. Yingli is the ninth solar-related stock to go public since November of 2005 and the fourth this year. Goldman Sachs, UBS Investment Bank, Piper Jaffray and CIBC World Markets were the underwriters on the deal. Expect the stock to begin trading on the NYSE today under the symbol "YGE."
