LDK Solar Co., Ltd. - Asia Europe Clean Energy (Solar) Advisory Co ...

Pricing of the Offering
Prior to this offering, there has been no public market for the ordinary shares or ADSs. The initial public
offering price is determined by negotiations between us, the selling shareholders and the representatives of the
underwriters. Among the factors considered in determining the initial public offering price are the future
prospects of our company and our industry in general, our sales, earnings and certain other financial operating
information in recent periods, and the price-earnings ratios, price-sales ratios, market prices of securities and
certain financial and operating information of companies engaged in activities similar to those of our company.
Electronic Offer, Sale and Distribution of ADSs
In connection with the offering, certain of the underwriters or securities dealers may distribute
prospectuses by electronic means, such as e-mail. In addition, Morgan Stanley & Co. International plc and
UBS AG may be facilitating Internet distribution for this offering to certain of their Internet subscription
customers. An electronic prospectus may be available on the Internet websites maintained by Morgan
Stanley & Co. International plc and UBS AG. Other than the prospectus in electronic format, the information
on the websites of Morgan Stanley & Co. International plc and UBS AG is not part of this prospectus.
Selling Restrictions
No action has been taken in any jurisdiction (except in the United States) that would permit a public
offering of the ADSs, or the possession, circulation or distribution of this prospectus or any other material
relating to us or the ADSs in any jurisdiction where action for that purpose is required. Accordingly, the ADSs
may not be offered or sold, directly or indirectly, and neither this prospectus nor any other offering material or
advertisements in connection with the ADSs may be distributed or published, in or from any country or
jurisdiction except in compliance with any applicable rules and regulations of any such country or jurisdiction.
The ADSs offered pursuant to this prospectus are not being registered under the Securities Act for the
purpose of sales outside the United States.
Canada. The distribution of the ADSs in Canada is being made only on a private placement basis
exempt from the requirement that we prepare and file a prospectus with the securities regulatory authorities in
each province where trades of the ADSs are made. Any resale of the ADSs in Canada must be made under
applicable securities laws which will vary depending on the relevant jurisdiction, and which may require
resales to be made under available statutory registration and prospectus exemptions or under a discretionary
exemption granted by the applicable Canadian securities regulatory authority. Purchasers are advised to seek
legal advice prior to any resale of the ADSs.
European Economic Area. In relation to each Member State of the European Area which has
implemented the Prospectus Directive (each, a ""Relevant Member State''), an offer to the public of any
ADSs which are the subject of the offering contemplated by this prospectus may not be made in that Relevant
Member State, except that an offer to the public in that Relevant Member State of any ADSs may be made at
any time under the following exemptions under the Prospectus Directive, if they have been implemented in
that Relevant Member State:
‚ to legal entities which are authorized or regulated to operate in the financial markets or, if not so
authorized or regulated, whose corporate purpose is solely to invest in securities;
‚ to any legal entity which has two or more of (1) an average of at least 250 employees during the last
financial year; (2) a total balance sheet of more than 443,000,000; and (3) an annual net turnover of
more than 450,000,000, as shown in its last annual or consolidated accounts;
‚ by the underwriters to fewer than 100 natural or legal persons (other than qualified investors as defined
in the Prospectus Directive) subject to obtaining the prior consent of Morgan Stanley & Co.
International plc and UBS AG; or
‚ in any other circumstances falling within Article 3(2) of the Prospective Directive,
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