May 29, 2009 (FinancialWire) — Suntech Power Holdings Co., Ltd. (NYSE: STP), a manufacturer of crystalline silicon photovoltaic modules, has closed its follow-on public offering of 23 million American depositary shares, with each ADS representing one ordinary share of the company.

The amount of ADSs sold reflects the exercise in full by the underwriters of their option to purchase up to three million additional ADSs to cover over-allotments.

Suntech received aggregate net proceeds of around $277 million.

San Francisco-based Suntech Power Holdings designs, develops, manufactures, and markets solar products for electric power applications in the residential, commercial, industrial, and public utility sectors.

Suntech has regional headquarters in China, Switzerland and the United States and sales offices worldwide.

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